Dahlman Rose Has Thoughts On Allied Nevada Gold (ANV)
Dahlman Rose & Co. is out with a research report on Allied Nevada Gold (NYSE: ANV), and has a Buy rating on shares. It also has a $29.60 price target on ANV, about 15% higher than where shares are currently trading.
In the research report, Dahlman Rose & Co. writes, "We have not altered our estimates to incorporate this new study, as only the summary finding from the report have been released. However, we believe that bring forward production from the large sulfide resource should generate value once the report is released and we can incorporate the critical operational and economic details. These assumptions are in line with our forecasts for the mill production startup in 2017. On a preliminary basis, this project could add an additional $5/sh to our NAV estimate."
Shares of ANV are down 41 cents to $25.18, a loss of 1.4%.
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