NEW YORK (TheStreet) -- Shares of Allied Nevada Gold Corp. (ANV) are down -3.90% to $2.96 on Tuesday as the price of gold continues to decline, reaching a three week low, effecting the entire gold group.
Recently, gold prices have been struggling to move higher as a result of the conflict between Russia and the Ukraine, the Wall Street Journal reports.
Separately, the Pomerantz law firm recently announced the filing of a lawsuit against Allied Nevada Gold Corp. on behalf of "a class consisting of all persons or entities who purchased or otherwise acquired securities of Allied Nevada between January 18, 2013 and August 5 2013," the law firm said.
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The class action suit is looking to recover damages from the company as a result of allegations Allied Nevada violated federal securities laws.
TheStreet Ratings team rates ALLIED NEVADA GOLD CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ALLIED NEVADA GOLD CORP (ANV) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and generally high debt management risk."