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Yamana Gold Trading Lower on 1.3x Above-Average Volume (AUY)

Published on Fri, 04/12/2013 - 13:15
By Robert Cotter

Shares of Yamana Gold are trading down 6.3% to $13.21 today on above average volume. Today's volume of 9.3 million shares tops the average 30-day volume of 7.0 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Yamana Gold Inc. is an intermediate gold producer with production, development stage, and exploration properties throughout Brazil. The Company also holds gold exploration properties in Argentina.

In the past 52 weeks, Yamana Gold share prices have been bracketed by a low of $12.68 and a high of $20.59 and are now at $13.21, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.2%.

Yamana Gold has overhead space with shares priced $13.21, or 39.4% below the average consensus analyst price target of $21.80. The stock should run into initial resistance at its 50-day moving average (MA) of $15.08 and subsequent resistance at its 200-day MA of $16.72.

By Robert Cotter
rcotter@fnno.com