Allied Nevada Gold Corp. (ANV) Misses Q3 EPS by 3c, Offers Outlook

Allied Nevada Gold Corp. (NYSE: ANV) reported Q3 EPS of ($0.13), $0.03 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $76.9 million versus the consensus estimate of $77.44 million.

Outlook

We expect our 2014 full year metal sales to approximate 220,000 to 230,000 ounces of gold and 1.9 million to 2.0 million ounces of silver. Due to our third quarter 2014 write-down of production inventories, our adjusted cash costs per ounce(1) during the fourth quarter will be lower than previously expected but we believe will continue to approximate $850 per ounce (with silver as a byproduct credit and excluding write-down) for the full year. Our full year 2014 adjusted cash costs per ounce(1) (including the impact of the third quarter 2014 write-down) are expected to approximate $1,075 to $1,100.

During the fourth quarter of 2014, we plan to focus our efforts on mining increased ore tons with ore grades higher than those mined during the first nine months of 2014.

For earnings history and earnings-related data on Allied Nevada Gold Corp. (ANV) click here.

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