Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Reduce” by Brokerages

Shares of Allied Gold Corporation (NYSE:AAUCGet Free Report) have been given an average recommendation of “Reduce” by the four ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company.

A number of research firms have weighed in on AAUC. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th.

Get Our Latest Research Report on AAUC

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Allied Gold during the 1st quarter worth approximately $34,000. Global Retirement Partners LLC bought a new stake in shares of Allied Gold in the 4th quarter worth approximately $34,000. Public Employees Retirement System of Ohio boosted its position in shares of Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock worth $363,000 after purchasing an additional 2,214 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Allied Gold by 31.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after purchasing an additional 3,484 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after purchasing an additional 5,627 shares in the last quarter.

Allied Gold Price Performance

Shares of NYSE:AAUC opened at $29.44 on Thursday. The stock’s 50-day moving average is $31.06 and its 200 day moving average is $26.66. The company has a market cap of $3.71 billion and a PE ratio of -56.62. Allied Gold has a 1 year low of $11.20 and a 1 year high of $32.20.

Allied Gold (NYSE:AAUCGet Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%.The firm had revenue of $427.82 million for the quarter. Analysts expect that Allied Gold will post 6.18 EPS for the current fiscal year.

About Allied Gold

(Get Free Report)

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.

See Also

Receive News & Ratings for Allied Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allied Gold and related companies with MarketBeat.com's FREE daily email newsletter.