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Allied Nevada Gold Corp. (NYSE:ANV) was downgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

Allied Nevada Gold Corp. (NYSE:ANV) traded down 6.35% during mid-day trading on Wednesday, hitting $3.39. The stock had a trading volume of 4,498,384 shares. Allied Nevada Gold Corp. has a 52 week low of $3.01 and a 52 week high of $10.20. The stock’s 50-day moving average is $4.48 and its 200-day moving average is $4.30. The company has a market cap of $352.7 million and a price-to-earnings ratio of 362.00.

Allied Nevada Gold Corp. (NYSE:ANV) last announced its earnings results on Monday, February 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.20. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $92.66 million. Analysts expect that Allied Nevada Gold Corp. will post $-0.22 EPS for the current fiscal year.

ANV has been the subject of a number of other recent research reports. Analysts at Cowen and Company cut their price target on shares of Allied Nevada Gold Corp. from $7.50 to $4.50 in a research note on Thursday, April 24th. They now have a “market perform” rating on the stock. Analysts at Zacks upgraded shares of Allied Nevada Gold Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday, February 6th. They now have a $4.80 price target on the stock. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $6.60.

Allied Nevada Gold Corp. (NYSE:ANV) is a gold and silver producer focused on mining, development, and exploration of properties in the state of Nevada.

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