Weakness Seen in Allied Nevada Gold (ANV): Stock Plunges 27%

Allied Nevada Gold Corp. (ANV) saw a big move last session, as the company’s shares fell by nearly 27% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for ANV, as the stock is now down more than 40% in the past one month.

Although this slump was obviously disappointing, the company has seen 1 positive revision and its current year loss estimate has narrowed in the past one month. This suggests that the recent slump might be a temporary blip on the radar for ANV. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

ANV currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.0%.

Some better-ranked stocks in the Basic materials sector include Banro Corporation (BAA), Lake Shore Gold Corp. (LSG) and Celanese Corporation (CE). All these stocks carry a Zacks Rank #2 (Buy).

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ALLIED NEVADA GOLD CORP (ANV): Free Stock Analysis Report

BANRO CP (BAA): Free Stock Analysis Report

LAKE SHORE GOLD CORP (LSG): Free Stock Analysis Report

CELANESE CORP DEL (CE): Free Stock Analysis Report


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