Allied Nevada Gold Bounces 17% Off Near 52-Week Lows on Confirmation to Meet Production Goals


Allied Nevada Gold ( ANV ) is up 17% at $13.95 and has touched above $14, bouncing off near 52-week lows hit on Monday, after the company said it's on track to meet its six-month production guidance of 90,000 to 100,000 ounces of gold.

Metal produced in the first quarter of 2013 was 38,019 ounces of gold and 188,000 ounces of silver with sales of 27,256 ounces of gold and 174,766 ounces of silver, it said. Allied Nevada expects to sell approximately 7,200 ounces of gold and 43,200 ounces of silver in the second quarter.

The company also said it's completing its expansion on time and on budget and that its Hycroft mine is beginning to perform.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: ANV

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by