Allied Nevada Gold Corp. Short Interest Up 5.0% in June (ANV)
Shares of Allied Nevada Gold Corp. (NYSE:ANV) were the target of a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 36,058,630 shares, an increase of 5.0% from the May 30th total of 34,337,941 shares, AR Network reports. Based on an average daily trading volume, of 2,791,342 shares, the days-to-cover ratio is currently 12.9 days. Approximately 37.6% of the company’s stock are sold short.
Several analysts have recently commented on the stock. Analysts at Bank of America reiterated an “underperform” rating on shares of Allied Nevada Gold Corp. in a research note on Thursday, May 8th. They now have a $4.00 price target on the stock, down previously from $4.65. Separately, analysts at Cormark downgraded shares of Allied Nevada Gold Corp. from a “market perform” rating to a “reduce” rating in a research note on Wednesday, May 7th. Finally, analysts at TheStreet downgraded shares of Allied Nevada Gold Corp. from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus price target of $4.43.
Allied Nevada Gold Corp. (NYSE:ANV) traded up 1.34% during mid-day trading on Tuesday, hitting $3.78. The stock had a trading volume of 6,773,834 shares. Allied Nevada Gold Corp. has a 52-week low of $2.61 and a 52-week high of $7.50. The stock’s 50-day moving average is $3.19 and its 200-day moving average is $4.13. The company’s market cap is $394.0 million.
Allied Nevada Gold Corp. (NYSE:ANV) last announced its earnings results on Monday, May 5th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.09. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $83.54 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 73.9% on a year-over-year basis. Analysts expect that Allied Nevada Gold Corp. will post $-0.34 EPS for the current fiscal year.
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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