NEW YORK (TheStreet) -- Allied Nevada Gold (ANV) shares are jumping, up 7.4% to $3.47, following reports that the company saw a significant increase in short interest during May.
There was short interest totaling 34,337,941 shares, up nearly 1% from the previous month, at the end of May representing about 36% of the company's total shares.
The company released its first quarter earnings results on May 5, earning 1 cent per diluted share, 9 cents ahead of analysts estimates. Revenue for the quarter came in at $85.5 million, also ahead of analysts $83.5 million estimate.
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 several weaknesses, 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: