Stock Pickers Digest, in the May, 2016, issue, refreshes its buy of Yamana Gold Inc., recently $5.43. Stock Pickers first said buy in August, 2005, at $4.80. It said sell half in March, 2006, at $8.70. Assuming a $1,000 investment at $4.80, selling half at $8.70 would have yielded a profit of $385. Stock Pickers then said buy 16 times from September, 2006, to February, 2016, at prices ranging from $2.13 to $17.14. Assuming a $1,000 investment for each of the 16 new buys, and taking into account the remaining $500 investment from the March, 2006, half sale, the $16,500 position is now worth $11,142. Yamana produced 345,788 ounces of gold in the quarter ended Dec. 31, 2015, down from 352,572 ounces a year earlier. As a result of the drop in production, as well as an 8.2-per-cent decrease in gold prices, cash flow fell to $150.5-million (U.S.) from $176.6-million (U.S.). Yamana's production should get a boost from the Rioacho dos Machados gold mine, which it bought in February for $51-million (U.S.). The mine produces 100,000 ounces of gold a year. Meanwhile, to conserve cash, Yamana has cut its annualized dividend to two U.S. cents from six U.S. cents, for a new yield of 0.5 per cent. Buy.