February 15, 2019 / 6:09 PM / 2 months ago

BUZZ-Yamana Gold: U.S.-listed shares set for more than three-week closing low

** U.S.-listed shares of Yamana Gold Inc down 3.5 pct at $2.49, set for more than three-week closing low

** Co posts Q4 adjusted EPS of 3 cents/shr on Thursday, beating est. of 2 cents/shr -IBES data from Refinitiv

** However, outlook on production disappoints some analysts

** “We view YRI’s 4Q18 results as a slight negative on reported in-line EPS, and 2/4 percent downward revision to FY19/20 GEO production guidance,” says Eight Capital

** GEO - gold equivalent ounce - includes gold plus silver which is converted to gold equivalent at 82.5:1 ratio for the forecast period

** Co has NTM Net Debt which is 2.2 times core earnings, says Eight Capital, which compares to a deleveraging target of less than 1.5 times

** The target “remains key to investor acceptance of the YRI deleveraging and valuation re-rating story” - Eight Capital

** BMO cuts PT on AUY to $2.50 from $3

** 9 of 13 brokerages rate the stock “buy” or higher, 2 “hold” and 2 “sell”; their median PT is $3.56 - Refinitiv Eikon data

** Including session moves, AUY has risen ~5.5 pct this year, making back a fraction of 24.4 pct slide during 2018 (Reporting by Aaron Saldanha in Bengaluru)

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