Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Allied Gold Corporation (NYSE:AAUC – Get Free Report) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of analysts recently issued reports on AAUC shares. Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. National Bank Financial lowered Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Stifel Nicolaus raised Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st.

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Institutional Trading of Allied Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Orion Resource Partners LP acquired a new stake in Allied Gold during the 2nd quarter worth $103,634,000. UBS Group AG increased its stake in Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after purchasing an additional 3,942,340 shares during the period. Helikon Investments Ltd raised its holdings in shares of Allied Gold by 12.0% in the fourth quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock valued at $377,486,000 after buying an additional 1,761,864 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Allied Gold in the first quarter valued at about $51,353,000. Finally, L1 Capital Pty Ltd acquired a new stake in shares of Allied Gold during the fourth quarter worth about $33,826,000.

Allied Gold Stock Performance

Shares of AAUC stock opened at $22.78 on Friday. The stock’s 50-day moving average is $22.68 and its two-hundred day moving average is $27.72. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -42.19 and a beta of -0.22. Allied Gold has a 1 year low of $11.90 and a 1 year high of $32.20.

Allied Gold (NYSE:AAUC – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. As a group, research analysts predict that Allied Gold will post 3.03 EPS for the current 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.

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