Yamana Gold Inc (AUY)

[SeriousStockStoke]

I'm out. Good Luck Longs


I was very disapointed once again that Yamana couldn't at least come in line with earnings estimates. Estimates are there for a good reason, to give investors an idea of future growth potential. I've cut this company far too much slack in the last year. That Q4/2007 earnings report read like it was put together the night before lol.

I'm going to pray for a pullback in Gold and begin building a position in Agnico Eagle (AEM) at around $55-$60 if I'm lucky, which really is the best of breed amongst the mid-tier gold miners. They have low cash costs and operate in one of the most politically stable regions in the world. That's why the stock is able to obtain a much higher P/E multiple than the other miners. As the price of gold continues to climb, the risk of nationalization becomes greater, so I'd rather be in Canada or Australia than South America.

Best of Luck to those who remain long AUY


Aloha