Allied Nevada Gold Corp. Sees Large Decline in Short Interest (ANV)
Allied Nevada Gold Corp. (NYSE:ANV) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 35,875,395 shares, a decline of 0.5% from the June 13th total of 36,058,630 shares, Analyst Ratings Net reports. Based on an average daily volume of 4,035,746 shares, the days-to-cover ratio is currently 8.9 days. Currently, 37.4% of the company’s stock are short sold.
A number of research firms have recently commented on ANV. 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. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Allied Nevada Gold Corp. currently has an average rating of “Sell” and an average price target of $4.43.
Shares of Allied Nevada Gold Corp. (NYSE:ANV) opened at 3.92 on Monday. Allied Nevada Gold Corp. has a 1-year low of $2.61 and a 1-year high of $7.50. The stock’s 50-day moving average is $3.41 and its 200-day moving average is $4.17. The company’s market cap is $408.6 million.
Allied Nevada Gold Corp. (NYSE:ANV) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 73.9% on a year-over-year basis. Analysts expect that Allied Nevada Gold Corp. will post $-0.28 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.