Allied Gold (NYSE:AAUC) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Allied Gold (NYSE:AAUC) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings assumed coverage on Allied Gold in a report on Thursday, October 30th. They set a “sell (d-)” rating on the stock. Cormark upgraded Allied Gold to a “moderate buy” rating in a research report on Friday, August 8th. Stifel Canada raised shares of Allied Gold to a “strong-buy” rating in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Allied Gold Price Performance

Shares of Allied Gold stock opened at $14.84 on Wednesday. Allied Gold has a 52 week low of $6.37 and a 52 week high of $20.49. The stock has a market capitalization of $1.83 billion and a price-to-earnings ratio of -41.22. The company has a 50 day moving average of $16.70.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.18). Allied Gold had a negative net margin of 3.58% and a positive return on equity of 24.32%.

Institutional Trading of Allied Gold

A number of hedge funds have recently bought and sold shares of AAUC. Cibc World Market Inc. boosted its holdings in shares of Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after purchasing an additional 7,991 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Allied Gold during the 2nd quarter worth approximately $127,000. Orion Resource Partners LP acquired a new stake in shares of Allied Gold in the second quarter worth $103,634,000. Finally, Bank of America Corp DE acquired a new stake in Allied Gold in the 2nd quarter valued at $13,169,000.

Allied Gold Company Profile

Allied Gold Corporation is a gold producer. It operates a portfolio of producing assets and development projects located principally in Cote d’Ivoire, Mali and Ethiopia. Allied Gold Corporation is based in Canada.