Allied Gold Corporation (NYSE:AAUC) Receives Average Rating of “Reduce” from Analysts

Allied Gold Corporation (NYSE:AAUC) has been assigned a consensus recommendation of “Reduce” from the four research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company.

Several equities analysts recently issued reports on AAUC shares. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday. Finally, Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th.

Hedge Funds Weigh In On Allied Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of AAUC. State of Wyoming acquired a new position in shares of Allied Gold in the 1st quarter valued at $34,000. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold during the fourth quarter worth $34,000. Public Employees Retirement System of Ohio grew its stake 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 purchasing an additional 2,214 shares during the period. Pictet Asset Management Holding SA increased its holdings in Allied Gold by 31.1% in the fourth 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Allied Gold by 54.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock valued at $280,000 after purchasing an additional 5,627 shares during the last quarter.

Allied Gold Stock Performance

Allied Gold stock opened at $20.82 on Tuesday. The business’s fifty day moving average is $24.54 and its two-hundred day moving average is $28.40. The firm has a market cap of $2.63 billion and a P/E ratio of -20.21. Allied Gold has a 52 week low of $11.40 and a 52 week high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $394.11 million during the quarter. On average, equities research analysts predict that Allied Gold will post 4.52 earnings per share for the current year.

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.