Why Allied Nevada (ANV) Is Up Today

NEW YORK (TheStreet) -- Allied Nevada Gold (ANV) gained 5.5% to $4.04 Thursday after the gold producer announced quarterly and yearly record sales in 2013.

Allied Nevada sold 113,173 ounces of gold in the second half of 2013, which the company says is "just shy of total gold sold for the full year of 2012." In 2012 the company sold 114,705 ounces of gold.

The mining company also says it had record sales and production levels in the fourth quarter of 2013 and the full year. The increase is thanks in part to the new Merrill-Crowe plant that opened in October. Allied Nevada will announce financial and operating results in February.

In addition to the sales announcements, Allied Nevada announced its guidance for 2014. The company expects gold and silver sales to increase to between 230,000 and 250,000 ounces of gold, and between 1.7 million and 2 million ounces of silver. It expects to mine 34.4 million tons of ore with average grade of 0.014 ounce per ton gold, and 0.35 ounce per ton silver.

TheStreet Ratings team rates Allied Nevada Gold as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ALLIED NEVADA GOLD CORP (ANV) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow."

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