January 12, 2018 / 12:56 PM / 3 months ago

BUZZ-Yamana Gold: Strong Q4 gold production bodes well - CIBC

** U.S.-listed shares of gold miner up 4.2 pct at $3.48 premarket

** CIBC ups PT to C$3.75 from C$3.25 after AUY estimates Q4 gold production of 259 kilo ounces (koz) above its expectation of 254 koz

** “Delivery on production, cost and capital guidance in 2017 should bode well for market sentiment and investor confidence,” note says

** Stock movement also supported by fifth-straight weekly rise in gold prices

** Up to Thursday’s close, AUY shares have risen ~5 pct over last 12 months

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Bernard Orr

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