Why Shares of Yamana Gold Jumped 19% in February
Shares of Yamana Gold (NYSE: AUY) lost their luster as the new year began, falling by 2.4% in January. But it didn't take long for investors to warm back up to the gold producer. According to data from S&P Global Market Intelligence, shares of Yamana Gold rose 18.9% in February.
The precious metals miner's fourth-quarter results contributed to that upswing, but investors also clicked the buy button in response to management's auspicious near-term guidance, as well as the upswing in the price of gold.
For Q4, Yamana Gold exceeded its forecast and reported a company record for quarterly production: 281,388 gold equivalent ounces (GEO). While it recognized strong production at several assets, its Jacobina mine in Brazil shined a little brighter than the others, achieving a new high-water mark with quarterly production of 48,228 GEO.
Source Fool.com
