Analyst Actions: Dundee Upgrades Yamana Gold

By Midnight Trader,  January 07, 2013, 03:15:11 PM EDT

Dundee Securities analyst Josh Wolfson upgraded Yamana Gold Inc. (YRI.TO) to "buy-high risk," impressed with the company's ability to generate modest positive free cash flow last year while simultaneously ramping up one mine, constructing three projects and pursuing other development properties, the Globe & Mail reported.

"We believe Yamana offers investors a combination of growing free cash flow, upcoming attractive catalysts and a track record of value creation that justifies its premium valuation," he said. Yamana shares currently trade at 1.29 times net asset value, an 18% premium to other producers.

Wolfson maintained a price target of $21.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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