Allied Gold (NYSE:AAUC – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Several other equities analysts have also weighed in on the stock. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Finally, Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allied Gold presently has a consensus rating of “Reduce”.
Check Out Our Latest Stock Report on AAUC
Allied Gold Stock Down 0.5%
Allied Gold (NYSE:AAUC – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). The firm had revenue of $427.82 million during the quarter. Allied Gold had a negative net margin of 3.89% and a positive return on equity of 36.52%. Research analysts expect that Allied Gold will post 6.18 earnings per share for the current year.
Institutional Investors Weigh In On Allied Gold
A number of institutional investors and hedge funds have recently made changes to their positions in AAUC. Bank of America Corp DE acquired a new stake in shares of Allied Gold in the 2nd quarter worth about $13,169,000. Orion Resource Partners LP acquired a new stake in shares of Allied Gold in the 2nd quarter worth about $103,634,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allied Gold in the 2nd quarter worth about $127,000. Cibc World Market Inc. raised its holdings in shares of Allied Gold by 54.4% in 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Allied Gold by 4.2% in 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 during the last quarter.
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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