Gold reviews are essential for investors to make the best choices. Thus, if you’re thinking about investing in Yamana Gold, you should carefully evaluate all the information you have on the company before making your choice. Read on, and find out everything you need to know.
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Yamana Gold
The first thing you should learn about Yamana Gold is that it’s a mining company, and its headquarters are in Canada. Even though the public didn’t know the company until 1995, it was founded in Toronto in 1994.
Yamana Gold needed a lot of time to be able to add its listing to the Exchange of New York. However, eventually, in 2007, all investors had the opportunity to purchase.
Overall, the New York Stock Exchange gave job seekers new opportunities with Yamana Gold. In 2020, the company also opened to European ownership when it started trading shares on the London Stock Exchange.
Additionally, 2003 marked an important time in the history of Yamana Gold. To improve, the company was completely restructured and merged with a different corporation. After that, Yamana Gold Inc started having gold-producing mines.
Once Yamana Gold combined the existing resources with its capital, experts could start relying on the Chapada mine. Even though economic reports needed some time before they showed positive results, eventually, the numbers were enough for the company to keep expanding.
After that, Yamana Gold Inc acquired seven more mining companies, which were on the Toronto Stock Exchange before. Consequently, the corporation has monopolized the market. Data shows that the strong approach to business is what has allowed Yamana Gold to expand its business operations.
Yamana Gold’s history continued between 2009 and 2016 since the company started producing no less than a million gold ounces every year. Thus, investors were never worried about it going under.
In 2016, the company split and removed several Brazilian mines and other assets. Thus, Brio Gold became a completely separate company.
Unfortunately, not everything worked out for Yamana Gold. It started facing a lot of backlash due to the way it compensated its corporate employees. To mitigate the comments, the CEO changed in 2018, and the new one was Daniel Rancine. Furthermore, he decided to sell two mines to pay off debts.
Just like different modern mining companies, Yamana Gold focuses on ESG. In other words, the environmental, social, and governmental impact of the corporation is very important for the people who run it. Consequently, it recently earned being named one of the 50 best corporate citizens in Canada.
Mining Operations
Considering that Yamana Gold’s history has been so long, it is no surprise that the company has been involved in many different projects as well. Fundamental company data shows that the corporation abandoned several of them without even realizing it.
At the same time, employers also focused on mining all the gold they could to take advantage of its worth. Lastly, some projects were sold to ensure Yamana Gold could pay off its debts.
Nowadays, Yamana Gold’s mining operations include five different gold mines. Additionally, employers are examining other potential places to see if they can offer significant benefits to the corporation.
Québec is home to the Canadian Malartic mine, which Yamana Gold bought in 2014 along with another mining company. Yamana now receives 50% of the assets of everything that comes from there, which includes both gold and silver since each employee use smelting and cyanidation to create the bars.
Another important mine is the El Peñón mine, which is near the Atacama desert in Chile. It’s one of the most relevant mines for Yamana Gold because it’s among the biggest gold ones in the world.
Yamana Gold bought this mine in 2007 when the corporation bought the company Meridian Gold. Nowadays, the place uses specific mining techniques to find gold veins. Additionally, with a Merril-Crowe process and a precipitate furnace, the mine refines all gold into bars.
Chile is also the home to a second mine Yamana Gold owns: the Minera Florida. Yamana also came into possession of it when the company bought Meridian Gold.
Although both of the aforementioned mines are in Chile, they target completely different things. In the second case, the mine uses an ore and carbon pulp system to create bars, and the place usually works with gold, silver, zinc, and ore.
The fourth mine Yamana Gold owns is the Jacobina Mine, which the corporation bought in 2006. It is in Bahia, Brazil, and it operates by focusing on gold veins and uses pulp systems to process the precious metal.
Lastly, Santa Cruz province of Argentina is the place where the Cerro Morro mine is. The company acquired it when it merged with Extorre Gold Mines Limited in 2012. However, it did not start producing gold until 2018.
Cerro Morro combines open-pit operations and underground tunnel procedures to create both gold and silver bars to sell.
Previous Operations
Market data is important when examining any company, especially one like Yamana Gold. Therefore, the different operations the corporation had in the past are relevant to understand the previous approach compared to the new one.
An essential part of company management includes not only dealing with everyone who wants to invest, each employee, and the shareholders but also considering the corporation’s past for informational purposes.
The Chapada mine was one of Yamana’s projects and it produced gold, silver, and copper. Even though it was a very important part for the company to become a relevant competitor in the precious metal market, it belonged to Yamana until 2019 since it had to be sold to pay off some debts.
Another project Yamana Gold used to pay dividends was the Gualcamayo mine in Argentina, which allowed the company’s gold stock to remain full from 2009 until 2019 when it was sold along with the Chapada mine.
Given the current price of gold and other precious metals, you probably weren’t very surprised when you read Yamana Gold started producing gold bars. Thus, you might want to know which was the first mine the company operated – it was the Fazenda Brasileiro in Brazil, which belonged to Yamana from 2003 to 2017, where the Brio Gold Venture acquired it.
When Yamana acquired Meridian Gold, the company started to produce silver and gold in the Mercedes Mine in Mexico. Nonetheless, instead of continuing to operate it, the corporation sold it to Premier Gold Inc.
Is Yamana Gold a Scam?
When you’re looking to invest in different sites, you might examine various factors before making your choices. You could, for example, take a look at the stock market, check out employee reviews, take a look at the backstory of the companies you’re examining, and see if there are any good trading options.
Data is essential to make the best choices when you invest, which is why reviews are essential to know whether a company is a scam or not. In this case, you might be relieved to find out that Yamana Gold is a completely legitimate corporation.
Yamana Gold’s operations are legitimate, and the company has been on the market since the 90s. You can purchase the stock if you want – all you need to do is to buy it from the London Stock Exchange, Toronto Stock Exchange, or the New York Stock Exchange.
Although Yamana has scaled back its development over the past few years, it is still one of the most relevant mining corporations in the world. Even so, it has received a lot of serious criticism regarding the use of the funds.
On some occasions, analysts from the industry have said that Yamana gave its executives too many bonuses while also taking a lot of debt. Therefore, it is no surprise that the company owed so much money.
Competitors were quickly taking advantage of Yamana’s poor reputation, which is why the company changed its CEO in 2018. However, trusting the corporation is still entirely up to you.
Advantages and Disadvantages
Being part of the investment world is not easy. In fact, it’s one of the most complicated jobs you could have since it involves you learning to make intelligent decisions. Thus, exploring the advantages and disadvantages of each company is essential. Take a look at Yamana’s pros and cons:
Pros
- It’s a well-known mining company
- You can buy stocks in different exchanges (London, Toronto, New York)
- It has had solid growth potential and has acquired seven mining companies
- The company has responded to criticism and changed the CEO as well as the management strategies
Cons
- People have heavily criticized the company for using shareholder funds to compensate relevant executives
Keynote Takeaways
Yamana Gold is a company with stocks available to the public. Therefore, it might be a solid alternative for investors looking for a precious metal investment that can pay dividends, if that’s what you want.
Nonetheless, you should take several factors into account. The company is not the largest mining corporation in the world and it has received some backlash. Consequently, you should carefully evaluate everything before making your choice.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
