RE: Yamana Gold still looks good
NP says Yamana Gold looking good
2007-07-20 06:57 ET - In the News
The National Post reports in its Friday edition that AGF Funds portfolio managers Jamie Horvat and Charles Oliver like Yamana Gold. The Post's Sonita Horvitch writes in the Buy & Sell column that Yamana Gold stock climbed 30 cents to close on the Toronto Stock Exchange at $13.40. The Post's Sonita Horvitch writes in the Buy & Sell colum that this Toronto-based gold producer and Northern Orion Resources have agreed to a business combination, and a concurrent proposal was made to Meridian Gold. This proposal has yet to be approved by Meridian's board. "Whether or not this deal materializes, we like Yamana, though the deal will result in a stronger company," says Mr. Oliver. The Street continues to increase their base metal commodity price assumptions, says Mr. Oliver. "These have lagged the market prices for the commodities, which remain stubbornly high despite skepticism in many quarters," says Mr. Oliver. Blackmont Capital analyst said buy Yamana in the Post's Trading Desk column on Jan. 22 when its stock was trading at $13.99 or 55 cents above Thursday's closing price. The stock is off $1.61 from when the Post cited Merrill Lynch analyst Michael Jalonen's "buy" call on Yamana on Jan. 16.