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Globe says Yamana Gold elevated to "outperform"
2020-11-17 04:49 PT - In the News
The Globe and Mail reports in its Tuesday edition that BMO Capital Markets analyst Jackie Przybylowski upgraded Yamana Gold ($5.54) to "outperform" from "market perform" (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that Ms. Przybylowski bumped her share target up by 75 cents to $9 target. Analysts on average target the shares at $7.95. Ms. Przybylowski says in a note: "We are upgrading Yamana because of relative valuation, including for expected positive near-term catalysts, as our thinking about the company's capital allocation strategy has evolved favourably, and as the result of changes to our target multiples and our target price and the corresponding improvement to valuation relative to other precious metals miners in our coverage universe." The Globe reported on July 21 that Scotiabank cut Yamana to "sector perform" from "sector outperform." The shares were then worth $6.30. The Globe reported on Sept. 22 that RBC Dominion Securities analyst Josh Wolfson said Yamana Gold's balance sheet strength and high free cash flow provide "an opportunity for additional dividend growth." He maintained his rating at "sector perform." The shares could the be had for $5.85.
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