Yamana Gold Inc. (NYSE:AUY) just released earnings and beat the estimates by one-cent.
Price action suggests that at least for now, the response is negative.
We are watching to see how Yamana handles price support in the area of 8.55 - 9.00 as there may be an opportunity to go long (for a medium to long-term trade) with a small amount of risk.
We consider Yamana a solid gold producer and one of the large miners that still has a measurable PE ratio.
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Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in AUY over the next 72 hours.