Where Will Yamana Gold Be in 1 Year?

Yamana Gold (NYSE: AUY) doubled its dividend in early 2019. That's a huge indication of where management sees things going for this mid-tier gold and silver miner. But management's positive outlook will only prove true if a number of things go right. Here's what you need to watch over the next year or so.

Yamana Gold made the decision to double down on precious metals in early 2019 when it agreed to sell the Chapada copper mine for roughly $1 billion ($800 million up front, plus potential contingent payments). That move helped the company to reduce costs, trim its leverage, and afford that big dividend hike. It also tied the company's price performance more tightly to the price of gold and silver. Although all precious metals miners are subject to this concern, it is a notable change from the past -- Yamana generated nearly 20% of its revenue from copper in 2018.

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