The precious metal price was down 0.71% to $1,291.40 at 2:55 p.m., according to CNBC.
The miner announced full-year preliminary production and sales for 2014 on Wednesday. Allied Nevada increased production by 12% to 214,345 ounces in 2014 from 190,831 ounces in 2013. Silver production soared 106% to 1,818,637 ounces in 2014 from 882,225 ounces in 2013.
Exclusive Report: Jim Cramer’s Best Stocks for 2015
"In 2014 we achieved a number of key goals, including completing positive prefeasibility and feasibility studies for the Hycroft mill project, increasing production and improving efficiency at the mine," CEO Randy Buffington said in a statement.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- ALLIED NEVADA GOLD CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, ALLIED NEVADA GOLD CORP reported lower earnings of $0.01 versus $0.52 in the prior year. For the next year, the market is expecting a contraction of 3600.0% in earnings (-$0.35 versus $0.01).
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Metals & Mining industry. The net income has significantly decreased by 1355.6% when compared to the same quarter one year ago, falling from $4.97 million to -$62.41 million.
- ANV's debt-to-equity ratio of 0.75 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Even though the debt-to-equity ratio shows mixed results, the company's quick ratio of 0.06 is very low and demonstrates very weak liquidity.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Metals & Mining industry and the overall market on the basis of return on equity, ALLIED NEVADA GOLD CORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 73.70%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 1300.00% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- You can view the full analysis from the report here: ANV Ratings Report