Research analysts at BMO Capital Markets cut their target price on shares of Allied Nevada Gold Corp (NYSE: ANV)
The analysts wrote, ?Allied Nevada previously press released the high-level results from its updated technical report for the Hycroft mine. After reviewing the actual technical report, the majority of operating costs have risen while production has seen a moderate decline. On a more positive note, the addition to 2014 production, and slightly lower cash costs have allayed fears of the need for external financing. The large increase reported in NPV and IRR from the summary press release was primarily due to increased metal price assumptions used to calculate revenue. BMO Research?s revised model assumptions have resulted in the 10% nominal NPV at spot prices falling to $14.05/sh from $17.50/sh.? Allied Nevada Gold Corp traded up 1.71% on Friday, hitting $18.185. Allied Nevada Gold Corp has a 52-week low of $16.89 and a 52-week high of $41.02. The stock?s 50-day moving average is currently $22.08. The company has a market cap of $1.632 billion and a price-to-earnings ratio of 34.38. Allied Nevada Gold Corp last posted its quarterly earnings results on Monday, February 25th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.04. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $78.68 million. During the same quarter last year, the company posted $0.20 earnings per share. On average, analysts predict that Allied Nevada Gold Corp will post $1.48 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ANV. Analysts at Zacks downgraded shares of Allied Nevada Gold Corp from an ?outperform? rating to an ?underperform? rating in a research note to investors on Monday, February 11th. They now have a $22.50 price target on the stock.
Six research analysts have rated the stock with a buy rating, two have given a hold rating, and two have issued a sell rating to the stock. The company presently has an average rating of ?overweight? and a consensus price target of $36.94.
Allied Nevada Gold Corp. (Allied Nevada) is a gold producer, which operates the Hycroft Mine and has a large number of exploration claims in the State of Nevada.