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UPDATE: Canaccord Lowers PT on Allied Nevada Gold Corp. on Revised Hycroft Production Profile

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In a report published Monday, Canaccord Genuity reiterated its Buy rating on Allied Nevada Gold Corp. (NYSE: ANV), but lowered its price target from $46.50 to $33.50.

Canaccord Genuity noted, “We reiterate our BUY rating on Allied Nevada following the filing of a technical report on March 7, 2013 outlining a revised Hycroft production profile. The revised economics indicate a shift in a portion of the mined material to the mill from being stacked on the pad. Our valuation has fallen on reconciliation to the revised mine plan and a forecast potential cash shortfall by as early as early 2015.”

Allied Nevada Gold Corp. closed on Friday at $18.14.

Latest Ratings for ANV

DateFirmActionFromTo
May 2014Bank of AmericaMaintainsUnderperform
May 2014Cormark SecuritiesDowngradesMarket PerformReduce
Oct 2013ScotiabankUpgradesSector UnderperformSector Perform

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Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

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