Taylor says buy Allied Nevada2015-02-24 21:04 ET - In the News
Jay Taylor, in the Feb. 13, 2015, edition of Gold, Energy & Tech Stocks, says buy Allied Nevada Gold Corp., recently $1.21. Mr. Taylor said buy four times from Feb. 17, 2009, to June 21, 2011, at prices ranging from $6.16 to $31.61. He said sell on Sept. 20, 2011, at $44.85. Assuming a $1,000 investment for each buy, selling at $44.85 yielded a profit of $11,288. He said buy again on April 17, 2013, at $10.75 and on Jan. 16, 2014, at $4.60. A $1,000 investment for each of the two buys is now worth $375. Mr. Taylor recently talked to a major Allied Nevada shareholder who is "very well connected" with its goings-on. The shareholder claimed bafflement at the company's poor share performance given its ownership of one of the largest and most economic gold mines in Nevada, Hycroft. Mr. Taylor reckons that the malaise stems from the myth that Allied Nevada took on over $500-million in debt and got nothing in return. The company is undoubtedly indebted, says Mr. Taylor, but it used the money on projects that either have provided or will provide a substantial increase in production. "There is no way the household-name majors working in Nevada are not licking their chops over Allied Nevada," Mr. Taylor concludes. He has been buying.