Boston, MA 02/12/2014 (wallstreetpr) – Yamana Gold Inc. (USA) (NYSE:AUY) has had its overweight rating confirmed by Morgan Stanley (NYSE:MS) analyst Brad Humphrey in a note issued Tuesday. The analyst also planted price objective of $12 on the stock, up from $11.50 in the previously issued note. Humphrey cited that AUY released operating results that confirmed their expectations. Moreover, that overhang of a miss vs guidance has now been removed signals that AUY will begin bridging its performance gap. The stock of AUY closed $10.26 Tuesday, crossing above the 200-day moving average of $10.08. The stock changed hands at high as $10.32 per share on Tuesday.
Newmont Mining Corp (NYSE:NEM) has completed sale of its Nevada mine to Klondex Mines. The transaction is valued at $83 million. NEM announced in December plans to sell its Midas underground and mill complex in efforts aimed at optimizing its portfolio, according to executive vice president of strategic development, Randy Engle. NEM is making spirited efforts to exit non-core operations and instead turning its focus on low-cost and longer life operations. Newmont Mining Corp (NYSE:NEM) announced that about $55 million of the transaction figure will be in cash. The stock was up more than 3 percent to $22.90 in the previous session.
JPMorgan Chase & Co. (NYSE:JPM) fund has purchased a 188-unit apartment community in North Mississippi District. The amount of the transaction has not been disclosed. This is yet another trendy acquisition that the managed investment fund has made in Portland neighborhood. The property in question was held by Behringer Investments which acquired it for about $38 million from Tupelo Alley in 2010. The said complex was built by Trammell Crow Residential and was completed in 2009. The apartment includes a ground-floor retail space of more than 10,000 square feet. It is reported that the JPM fund purchased the complex when it was 94 percent occupied. The said JPMorgan Chase & Co. (NYSE:JPM) fund last year paid $15 million to acquire a high-end 51-unit complex off Southeast Hawthorne Avenue.