CIBC Reiterates “Sector Underperform” Rating for Allied Nevada Gold (ANV)
Allied Nevada Gold (AMEX:ANV)‘s stock had its “sector underperform” rating reaffirmed by research analysts at CIBC in a report released on Tuesday, American Banking News.com reports. They currently have a $3.00 price objective on the stock. CIBC’s price objective would indicate a potential downside of 32.13% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company downgraded shares of Allied Nevada Gold from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 8th. They now have a $6.56 price target on the stock, down previously from $20.51. Analysts at RBC Capital downgraded shares of Allied Nevada Gold from a “sector perform” rating to an “underperform” rating in a research note to investors on Wednesday, August 7th.
Allied Nevada Gold (AMEX:ANV) traded down 8.87% during mid-day trading on Tuesday, hitting $4.42. 9,184,462 shares of the company’s stock traded hands. Allied Nevada Gold has a one year low of $3.54 and a one year high of $41.02. The stock has a 50-day moving average of $4.58 and a 200-day moving average of $7.46. The company has a market cap of $459.4 million and a P/E ratio of 10.64.
Allied Nevada Gold Corp. (AMEX:ANV) is a gold producer, which operates the Hycroft Mine and has a large number of exploration claims in the State of Nevada.
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