The Best Gold Miner to Buy Now

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Yamana Gold (NYSE: AUY ) - This large-cap Canadian-based miner of gold properties in the Americas made a high at just over $15 yesterday.

AUY has been our favorite gold miner since early this year, and in July, it broke from a seven-month consolidation on a new gold and copper discovery inBrazil. The breakout was accompanied by heavy volume, but in the last week the volume has increased dramatically as the price of gold rose to almost $1,800 an ounce.

Even though Yamana has reached our price objective of $15, it could track the price of gold even higher. Continue to hold AUY with a stop-loss order at $13.50, which should protect against a sell-off in gold. Our new price objective for AUY is $18.

Trade of the Day - Yamana Gold (NYSE:AUY)

Trade of the Day Chart Key

See Sam Collins' Daily Market Outlook: Panic Seizes the Markets - What Now? See Serge Berger's Daily Market Outlook: The Safest Place to be in This Market See Serge Berger's Trade of the Day: Place Your Chips on Intel

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



This article appears in: Investing , Investing Ideas , Stocks


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