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Yamana Gold Inc.YRI.TOCOMMENTJun 17, 2015Stock price when the opinion was issued
As of Apr 03, 2023. Market Open.
They basically broke up the company to have the marginal Brazilian assets in Equinox. They sorted out their balance sheet.
An intermediate gold producer. Have 3 pretty interesting, high-quality assets, Chapada, Artic mine and El Penon. However, when he looks at the rest of the portfolio, it is a little bit stretched and they are smaller, scrappier assets. While the 3 core assets could probably trade at a premium, the rest of the portfolio drags down that target multiple you expect to see it trade at. NAV is about where it is trading at. Have taken on a lot of debt, and management is a big question mark in the eyes of investors.