YAMANA GOLD $8.22 - Toronto symbol YRI

>YAMANA GOLD $8.22 (Toronto symbol YRI; TSINetwork Rating: Speculative) (416-815-0220; www.yamana.com; Shares outstanding: 753.3 million; Market cap: $5.9 billion; Dividend yield: 2.0%) has succeeded in its joint $3.9-billion bid with Agnico Eagle Mines for Osisko Mining. Rival bidder Goldcorp has withdrawn its offer. Agnico Eagle and Yamana will now each own half of Osisko’s assets, including the Canadian Malartic gold mine in Quebec.

The acquisition also lets Yamana diversify beyond South America and Mexico, where it has seven mines. It should also boost the company’s per-share cash flow.

Yamana Gold is still a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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