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    AUY – Yamana Gold

    By Stock Charts | March 18, 2007




    I’ve liked Yamana since it was trading in the mid 7′s. “Yamana Gold, Inc. engages in the acquisition, exploration, development, and operation of precious metal mining properties in Brazil and central America.” Specifically, the company’s primary metal of production is gold. This stock is a direct gold play. After the large drop in the price of gold following wall street’s recent heavy correction, I believe gold is poised to make a comeback. AUY was on the cusp of a breakout when the market correction brought it back down; however, as the price of gold continues to rise, so will Yamana. Here is the stock chart:

    auy_0318071.PNG

    Other mining stocks I am watching: TRE, MMG, NXG.

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