Why Allied Nevada Gold (ANV) Stock Is Up Today

NEW YORK (TheStreet) -- Allied Nevada Gold (ANV) is reportedly looking to sell a stake in itself or the Hycroft gold mine, according to a report from The Wall Street Journal.

Shares of the mining company were gaining 1.6% to $3.79 Tuesday.

The Hycroft mine's expansion is considered critical to Allied Nevada's future according to the report. The expansion for at Hycroft would include about $1.3 billion to construct a mill with a processing capacity of 120,000 metric tons a day of rock.

Allied Nevada previously said that would consider financing of investment options for a mill expansion at Hycroft. Advisers to the company have since reported talked to mining groups and financial institutions about potentially selling a stake.

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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 few notable 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."

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