U S Global Investors Inc. Invests $5.57 Million in Allied Gold Corporation $AAUC

U S Global Investors Inc. bought a new position in shares of Allied Gold Corporation (NYSE:AAUC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 242,753 shares of the company’s stock, valued at approximately $5,565,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AAUC. Bank of America Corp DE acquired a new stake in shares of Allied Gold during the 2nd quarter worth about $13,169,000. Orion Resource Partners LP acquired a new stake in shares of Allied Gold during the 2nd quarter worth about $103,634,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allied Gold during the 2nd quarter worth about $127,000. Cibc World Market Inc. raised its position in shares of Allied Gold by 54.4% during the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after acquiring an additional 7,991 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Allied Gold by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after acquiring an additional 75,931 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAUC. Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus lowered Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Allied Gold has an average rating of “Reduce”.

Allied Gold Stock Down 0.1%

AAUC opened at $31.81 on Friday. The firm has a market cap of $4.00 billion and a price-to-earnings ratio of -61.16. Allied Gold Corporation has a 52 week low of $11.20 and a 52 week high of $32.20. The business’s 50 day moving average is $31.39 and its two-hundred day moving average is $25.58.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.08). The firm had revenue of $427.82 million for the quarter. Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%. Equities analysts expect that Allied Gold Corporation will post 6.18 EPS for the current fiscal year.

Allied Gold Profile

Allied Gold (NYSE: AAUC) is a publicly listed company that operates in the gold mining sector. The firm’s business centers on identifying, acquiring and advancing gold-bearing properties with the objective of creating and operating economically viable mining assets. Allied Gold’s activities are typical of junior and mid-tier gold companies, encompassing exploration, resource definition, development planning and the eventual production and sale of gold.

Core business activities for Allied Gold include mineral exploration programs to discover and delineate gold resources, feasibility and engineering studies to assess project economics, permitting and mine development work where projects progress to the construction phase, and operational oversight for producing assets.