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

Shares of Allied Gold Corporation (NYSE:AAUC) have been assigned an average recommendation of “Hold” from the four research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a strong buy recommendation on the company.

Several brokerages have weighed in on AAUC. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Zacks Research downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Stifel Nicolaus raised shares of Allied Gold to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday.

Allied Gold Trading Down 1.4%

Allied Gold stock opened at $31.56 on Tuesday. The stock’s 50-day moving average price is $24.61. Allied Gold has a 12-month low of $8.67 and a 12-month high of $32.08. The firm has a market capitalization of $3.94 billion and a PE ratio of -87.66.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Allied Gold had a positive return on equity of 24.32% and a negative net margin of 3.58%.

Institutional Trading of Allied Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in Allied Gold by 11.9% during the third 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 lifted its holdings in Allied Gold by 31.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock valued at $337,000 after purchasing an additional 3,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Allied Gold by 54.3% during 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 during the period. Cibc World Market Inc. lifted its holdings in shares of Allied Gold by 54.4% during 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 period. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold in the 2nd quarter worth $127,000.

Allied Gold Company Profile

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.