Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Hold” by Analysts

Allied Gold Corporation (NYSE:AAUC) has been assigned an average recommendation of “Hold” from the four brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company.

Several equities research analysts have commented on the company. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Zacks Research raised Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th.

Allied Gold Stock Down 1.1%

NYSE AAUC opened at $22.77 on Friday. Allied Gold has a twelve month low of $11.40 and a twelve month high of $32.20. The firm has a market capitalization of $2.88 billion and a PE ratio of -22.10. The stock’s 50 day moving average is $27.88 and its 200 day moving average is $28.53.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. The firm had revenue of $394.11 million for the quarter. On average, research analysts anticipate that Allied Gold will post 5.1 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

Hedge funds have recently added to or reduced their stakes in the stock. Helikon Investments Ltd lifted its holdings in shares of 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 purchasing an additional 1,761,864 shares in the last quarter. Orion Resource Partners LP bought a new position in shares of Allied Gold during the second quarter valued at $103,634,000. UBS Group AG lifted its holdings in shares of Allied Gold by 3,921.0% during 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 in the last quarter. Boston Partners lifted its holdings in shares of Allied Gold by 8.4% during the fourth quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after purchasing an additional 307,675 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Allied Gold by 111.1% during the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after purchasing an additional 1,326,787 shares in the last quarter.

About Allied Gold

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.