YRI:CC - Yamana Gold: A Solid Buy-The-Dip Candidate

• Yamana Gold released its Q1 results this week, reporting quarterly production of ~238,600 gold-equivalent ounces, a 3% increase from the year-ago period.
• From a cost standpoint, Yamana saw limited cost creep despite inflationary pressures, and the higher gold price helped Yamana report margin expansion in the period.
• While the company's operational excellence is noteworthy, it's the work across the portfolio that isn't recognized in the quarterly results that makes this a very unique story.
• Given Yamana's incredible organic growth profile and near unparalleled production growth toward its Yamana 1.5 Plan vs. million-ounce producer peers, I would expect sharp pullbacks to find strong buying support.

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