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3 Gold Stocks That Are Breaking Out

Gold miners are joining what looks to be the first major breakout in precious metals since August

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Allied Nevada Gold (ANV)

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Allied Nevada Gold (ANV) operates the Hycroft open-pit mine near Winnemucca, Nev., that produced 137,000 ounces of gold and 794,000 ounces of silver in 2012. Through the end of Q3, revenues increased 34% year-over-year — impressive considering the decline in physical gold prices over that period.

Overall, analysts are looking for ANV’s revenues to swell to $269 million this year, up 25% from full-year 2012 results, and to $399 million in 2014.

After hitting a high above $45 per share back in 2011, ANV is trading at less than $4 now as it emerges from a consolidation pattern that’s been building since August.

Article printed from InvestorPlace Media,

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