Stifel Nicolaus Downgrades Allied Gold (NYSE:AAUC) to Hold

Allied Gold (NYSE:AAUC) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Tuesday, MarketBeat Ratings reports.

A number of other research analysts also recently commented on the stock. Zacks Research raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Canaccord Genuity Group downgraded shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Allied Gold Stock Up 0.2%

Shares of AAUC stock opened at $31.60 on Tuesday. The company has a 50 day simple moving average of $26.47. The firm has a market capitalization of $3.94 billion and a PE ratio of -87.78. Allied Gold has a fifty-two week low of $8.67 and a fifty-two week high of $32.08.

Institutional Trading of Allied Gold

A number of hedge funds have recently made changes to their positions in the company. Helikon Investments Ltd raised its stake in Allied Gold by 12.0% during 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 in the last quarter. Orion Resource Partners LP acquired a new position in Allied Gold during the 2nd quarter worth $103,634,000. UBS Group AG grew its position in Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after buying an additional 3,942,340 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Allied Gold by 106.7% during the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after acquiring an additional 1,257,438 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Allied Gold by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after purchasing an additional 75,931 shares during the period.

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.