NEW YORK (TheStreet) -- Shares of Allied Nevada Gold Corp. (ANV) are higher by 18.10% to $1.24 on heavy volume in mid-afternoon trading on Monday, as gold mining and related stocks get a jolt from the rise in price of the precious metal.
Gold for February delivery is up by 1.39% to $1,233 per ounce on the COMEX this afternoon.
Gold is continuing Friday's gains, which were spurred by a stronger than expected U.S. jobs report for December.
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Last month, the U.S. created 252,000 jobs, and the unemployment rate declined to 5.6%.
Also helping gold move forward was a surprise decline in hourly wages, which kept expectations of an increase in interest rates under control, MarketWatch reports.
Separately, 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, generally disappointing historical performance in the stock itself and generally high debt management risk."