Yamana Gold Inc. /zigman2/quotes/201751186/composite AUY +0.22%
With a 3.1% gain today, shares of AUY stock are once again in focus for investors. In the past five days, AUY stock has climbed by over 8.7%, which is substantial for a mining stock. While it's tough to say why AUY stock is increasing right now, we can look at a recent announcement from the company and the gold industry at large.
Last week, the company posted a report on its updated mineral reserves as well as its mineral resources. It stated that it has grown mineral reserves at the majority of its mines over the previous year. As of December 31st, the company reported 13.7 million ounces of gold mineral reserves. In addition, it posted 111 million ounces of silver reserves. All of this is positive news and reflects the growth of both Yamana and the gold industry at large.
In the past few weeks, we've witnessed sizable rises in the price of gold. Of course, this has been a major factor in the increasing price of AUY stock during that time. For those unfamiliar, Yamana is a provider of gold and silver with land positions in the Americas, Canada, Brazil, Chile, Argentina, and more. The company has continued to build upon these positions by growing its existing reserves and exploring new ones. With its recent momentum, do you think AUY stock is worth buying right now or not?
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