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UPDATE: Credit Suisse Raises PT to $22 on Yamana Gold, Maintains Outperform on Exploration Update

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Credit Suisse reiterates its Outperform rating on Yamana Gold (NYSE: AUY) and raises its price target from $21 to $22 a share.

Credit Suisse comments, "Exploration success at flagship assets drove the DCF increase: We are now modelling an additional ~500koz of GEO production over the life of mine at El Penon and ~2Moz additional gold production at Chapada. The exploration success will allow current levels of production to be sustained at both assets, we previously had them depleting somewhat in 2016-2020. Dividend likely to increase this year (Credit Suisse est.) as Ernesto Pau-a-Pique and C1 Santa Luz come into production at year end, given AUY's history of growing dividends once new levels of sustainable cashflow are realized."

AUY closed at $16.08 on Wednesday.

Latest Ratings for AUY

DateFirmActionFromTo
Feb 2015BarclaysMaintainsOverweight
Feb 2015Bank of AmericaReinstatesBuy
Nov 2014RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for AUY
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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