JPMorgan Chase & Co. Boosts Holdings in Allied Gold Corporation $AAUC

JPMorgan Chase & Co. lifted its holdings in Allied Gold Corporation (NYSE:AAUC) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,867,201 shares of the company’s stock after purchasing an additional 75,931 shares during the period. JPMorgan Chase & Co.’s holdings in Allied Gold were worth $32,695,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AAUC. Tower Research Capital LLC TRC purchased a new position in Allied Gold in the 2nd quarter valued at approximately $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allied Gold by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after acquiring an additional 5,627 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 2,214 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Allied Gold in the third quarter valued at $366,000. Finally, Cibc World Market Inc. boosted its holdings in Allied Gold by 54.4% in the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after purchasing an additional 7,991 shares during the period.

Allied Gold Stock Up 0.1%

Shares of Allied Gold stock opened at $31.05 on Monday. Allied Gold Corporation has a 52 week low of $8.67 and a 52 week high of $32.08. The firm’s 50 day moving average is $30.79 and its two-hundred day moving average is $23.15. The firm has a market capitalization of $3.89 billion and a P/E ratio of -86.25.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAUC. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Zacks Research lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

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.