gold price ticking up, time for AUY to reopen mines?gold price ticking up, time for AUY to halt closing of three mines? That would be a nice development
Canada Could Become Ground Zero Of A New Gold Rush
Yamana Gold (NYSE: AUY), one of the world's top gold companies, has seen its share price hit especially hard this year. The company fell to a low of $3.99 in March before rebounding to its current price of $5.08, which is still far cry from January highs at $6.68 per share, according to Yahoo Finance data. Yamana had been on an upward trend until February when it announced that three mines were closing and more than 1 billion dollars would be cut from their budgets as part of ongoing austerity measures due to slumping prices for precious metals and weak demand for mining equipment across the industry.