TORONTO, Sept. 15, 2020 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is pleased to announced that it has been… On Tuesday, the Dow closed up marginally, after gaining more than 200 points earlier in the session. There’s a plenty of reasons why prices of shares could struggle. But I reckon this particular stock could rocket in value this month.
TORONTO, Sept. 15, 2020 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is pleased to announced that it has been included in this year’s TSX30 ranking of top performing stocks on the Toronto Stock Exchange (“TSX”).
The TSX30 program is a sector-agnostic ranking of the top 30 performing companies on the TSX over a three-year period, based on dividend-adjusted share price appreciation.
“We are very proud to be part of the TSX30, which validates both our strategic vision and the hard work of every Yamana employee,” said Daniel Racine, President and Chief Executive Officer of Yamana. “We believe this is just the start. As Yamana advances projects to increase production at its existing operations and grow its reserves and resources, we will continue to increase shareholder returns and be an investment of choice for TSX investors. I could not be more excited for the future.”
Underpinned by its talented and dedicated workforce, Yamana has taken a number of important steps in the last three years to drive performance and set the stage for long-term growth and higher returns. These include:
- Delivering on our initiatives related to health, safety, environment, and community relations programs. The Company’s Total Recordable Injury Frequency Rate was 0.57(i) in 2019, a 24% decrease over the past three years.
- Reducing net debt by US$991 million in the past four quarters, significantly increasing financial flexibility.
- Upgrading and rightsizing of the Company’s asset portfolio to five high-quality, long-life producing mines along with a deep pipeline of exploration and development projects — all located in mining-friendly jurisdictions in the Americas.
- Advancing key projects in the Company’s existing portfolio, including the phased expansion of Jacobina and the Canadian Malartic underground project, setting the stage for consistent long-term growth.
- Transitioning to a positive, and rising, free cash flow profile.
- Increasing shareholder returns, including four dividend raises in the past year alone for a cumulative increase of 250%.
- Executing on portfolio optimization initiatives by monetizing non-producing assets, further enhancing financial flexibility.
(i) Calculated on 200,000 hours worked and includes employees and contractors.
Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Email: [email protected]
Toronto, Ontario, CANADA
Author: Yamana Gold
Stock futures flat as investors await Fed meeting
U.S. stock futures were little changed in early morning trading on Wednesday as investors readied for comments from the Federal Reserve later in the day.
Dow futures were up 25 points. S&P 500 and Nasdaq 100 futures were also slightly higher.
Better-than-expected earnings from FedEx and Adobe after the bell boosted sentiment. FedEx released a blowout quarter with earnings $2.18 per share above analyst estimates, fueled by the e-commerce boom. The shipping company rallied more than 9% in extended trading. Adobe jumped 2% after hours.
On Tuesday, the Dow closed up marginally, after gaining more than 200 points earlier in the session. Apple shares came off their highs following the technology giant’s new product event, dragging down the 30-stock average following its new product event.
The S&P 500 climbed 0.5%, despite weakness in financials. Tuesday marked the third straight day of gains for the 500-stock index.
Technology stocks continued their broad based rally. The Nasdaq Composite rose 1.2%, bringing its week to date gain to more than 3%. The technology heavy index dipped in correction territory last week and suffered its worst weekly performance since March.
Positive economic data in the U.S. and China on Tuesday boosted sentiment on Tuesday.
“Optimism is being supported by a continual flow of good economic news, healthy earnings news and the prospect of getting more comforting news from the Federal Reserve tomorrow suggesting they remain committed to letting the recovery run hot while continuing to provide supportive policies,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC.
Wednesday marks the second day of the Federal Reserve policy’s meeting, the first since Chairman Jerome Powell unveiled a policy shift toward greater tolerance of inflation, effectively pledging to keep interest rates low for longer. Investors widely expect the central bank to maintain is downbeat stance on the economy.
The Federal Open Market Committee will provide its quarterly update on its estimates for GDP, unemployment and inflation. The central bank could provide clearer guidance on what it will take to raise rates in the future.
“The Fed doesn’t like to be involved in politics, even though its inherently a political institution but two months before an election is a very difficult time to put your politics aside,” David Zervos, chief market strategist at Jefferies, said on CNBC’s “Closing Bell” on Tuesday. “You just have to expect that there’s going to be some thought to politics.
One of the hottest initial public offerings of 2020 will open for trading on Wednesday. Data storage software company Snowflake is priced at 30 times forward revenue and even got a rare vote of confidence from Berkshire Hathaway. Snowflake expects to go public at a share price between $100 and $110, according to an updated S-1 filing from Monday.
August retail sales data will be released at 8:30 a.m. on Wednesday. Analysts polled by FactSet are expecting an increase of 1.1%, compared to July’s 1.2% rise.
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Author: Maggie Fitzgerald
I’d Buy This Cheap Stock Today! I Reckon Its Share Price Could Still Surge In September
Demand for shares on British stock indices remains extremely weakw. The FTSE 100, for instance has made fractional gains only in September. And this follows a summer during which prices of UK shares on the Footsie retrated in value
There’s a number of factors that could keep demand for UK shares in the gutter. Rising Covid-19 infection rates, and disappointing news on the hunt for a vaccine are the most obvious. Rising trade tensions between the US and other major economies are another, whilst rising civil unrest in the States and heightened political uncertainty in Washington provide reason to be pessimistic.
Throw a rocky Brexit process into the mix, too and there’s clearly plenty of reason why demand for UK shares could remain quite pathetic. The possibility of another stock market crash can’t be ruled out, either. But that doesn’t mean that all British stocks are in danger of flailing or sinking in the near term. Indeed, I think this UK share — which I’d buy today and hold for years — could still surge in September.
Trade Is Picking Up
Housebuilder Redrow has shed a whopping 40% of its value since the start of 2020. It’s been a pig of a year for the business as Covid-19 smashed the UK economy, lockdown measures caused the homes market to grind to a halt, and construction work at the builder’s sites was closed down.
Trading has (largely speaking) been strong since newbuild creators like Redrow re-opened their sales offices and homebuyers came out of hibernation, however. Pent-up demand for homes has been strong, and the government’s Help to Buy purchase incentive scheme has helped property sales shoot through the roof. The introduction of stamp duty holidays has helped to massage demand too.
The latest survey from the National Association of Estate Agents said that average home sales per branch hit 13 in July. This was the best monthly result since 2007 and was up 44% year on year. Industry signals have remained encouraging since then and I’m expecting another robust trading update from Redrow tomorrow (Wednesday, September 16), one that could help its share price to soar again.
A Future Growth Star
The British economy faces significant headwinds in the short term. And this threatens to derail strong trading at Redrow and its peers. Still, I don’t expect newbuild sales to slump. Why? Well Britain’s massive homes shortage means that demand for newly-created properties should remain strong. Data from homelessness charity Shelter illustrates this perfectly. It shows that more than 380,000 homes that were given planning permission between 2011 and last year remain unbuilt.
Redrow’s share price collapse in 2020 leaves it trading on a dirt-cheap forward price-to-earnings (P/E) ratio of 11 times. And this provides an attractive level for long-term investors to buy in at, in my opinion. The builder’s expected to bounce from a 56% earnings drop this year with a 36% bottom-line jump in 2021. I’d snap this FTSE 250 stock up today in expectation of making terrific returns in the coming years.
Author: Royston Wild