Boston, MA 10/09/2013 (wallstreetpr) – Following a research note to investors released Tuesday, analysts at CIBC have maintained their “sector underperform” rating on gold and silver producer Allied Nevada Gold Corp. (NYSEMKT:ANV). This is the latest rating of the stock so far.
The CIBC note to investors indicates $3 price objective on ANV. Compared against the prevailing share price, this price target indicates a potential drop of 32.13%.
Earlier, other analysts have also issued their sentiments on ANV stock. Cowen and Company has downgraded the stock to a “market perform”, down from previous “outperform”. Cowen and Company has $6.56 price objective on the stock; this new price target is a downward departure from the firm’s previous $20.51 target on the stock.
ANV has also suffered a downgrade rating on its shares from RBC Capital. The Capital now has an “underperform” rating on the stock against its earlier sentiment of “sector perform”.
The gold and silver miner ANV, like many other players in the gold market, has not had good moment of business lately. But its expanded and varied ventures have enabled it to notice not so huge value hemorrhage on its shares. It has obviously witnessed its lowest trading lately, but not the kind that can cause big investor worry.
The company’s 52-week range stands at $41.02 high and $3.54 low. It has a market cap of $443.84 million and per share to earning ratio of 9.21.
In the last quarter (Q2.13), the company realized net profit margin and operating margin of 7.17% and 13.32% respectively. The gold and silver miner which has 464 employees registered 1.21% and 2.40% in return on average assets and return on average equities respectively for the Q2.13.
The company’s Q3 earnings are due for release on Nov. 5. It remains to be seen if analysts’ sentiments on the stock so far will stand the test of time when that day comes.
