Allied Gold (NYSE:AAUC) Releases Earnings Results, Beats Estimates By $0.19 EPS

Allied Gold (NYSE:AAUCGet Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19, Zacks reports. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%.

Allied Gold Stock Performance

Shares of AAUC traded up $0.88 during midday trading on Wednesday, hitting $19.70. 729,979 shares of the stock traded hands, compared to its average volume of 808,049. The business’s 50 day moving average price is $23.23 and its two-hundred day moving average price is $28.05. The firm has a market capitalization of $2.49 billion, a PE ratio of -19.13 and a beta of -0.20. Allied Gold has a 1-year low of $11.40 and a 1-year high of $32.20.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAUC. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allied Gold has a consensus rating of “Hold”.

Check Out Our Latest Research Report on AAUC

Institutional Trading of Allied Gold

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Allied Gold in the 4th quarter worth about $1,160,000. Cibc World Market Inc. increased its stake in shares of Allied Gold by 73.4% in the fourth quarter. Cibc World Market Inc. now owns 39,341 shares of the company’s stock valued at $902,000 after purchasing an additional 16,651 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of Allied Gold during the fourth quarter valued at approximately $825,000. Harvest Investment Services LLC bought a new stake in shares of Allied Gold during the third quarter valued at approximately $497,000. Finally, Amundi acquired a new position in shares of Allied Gold during the third quarter worth approximately $451,000.

Allied Gold Company Profile

(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.

Further Reading

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