Allied Gold (NYSE:AAUC – Get Free Report) posted its earnings results on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03), Zacks reports. The business had revenue of $394.11 million during the quarter. Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%.
Allied Gold Stock Down 1.7%
Shares of NYSE:AAUC traded down $0.49 during trading on Friday, hitting $28.84. The stock had a trading volume of 40,123 shares, compared to its average volume of 845,977. The company has a market capitalization of $3.63 billion and a PE ratio of -55.45. The firm’s fifty day moving average is $31.02 and its 200 day moving average is $26.74. Allied Gold has a 12 month low of $11.33 and a 12 month high of $32.20.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on AAUC shares. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Stifel Nicolaus lowered Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.
Hedge Funds Weigh In On Allied Gold
Institutional investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board bought a new stake in shares of Allied Gold during the 4th quarter valued at $825,000. Public Employees Retirement System of Ohio increased its stake in shares of Allied Gold by 64.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 34,252 shares of the company’s stock worth $786,000 after acquiring an additional 13,462 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Allied Gold during the 4th quarter valued at about $780,000. PenderFund Capital Management Ltd. bought a new stake in Allied Gold during the fourth quarter worth about $619,000. Finally, Verition Fund Management LLC bought a new stake in Allied Gold during the fourth quarter worth about $531,000.
About Allied Gold
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.
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