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

Shares of Allied Gold Corporation (NYSE:AAUC) have been given an average recommendation of “Reduce” by the four brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company.

A number of research analysts have issued reports on AAUC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AAUC. Orion Resource Partners LP purchased a new position in shares of Allied Gold in the second quarter worth about $103,634,000. UBS Group AG raised 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 worth $92,501,000 after purchasing an additional 3,942,340 shares during the last quarter. Helikon Investments Ltd raised its holdings in shares of Allied Gold by 25.0% during the third quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock worth $258,038,000 after purchasing an additional 2,944,721 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Allied Gold during the first quarter worth $51,353,000. Finally, L1 Capital Pty Ltd purchased a new position in shares of Allied Gold during the fourth quarter worth $33,826,000.

Allied Gold Stock Performance

Allied Gold stock opened at $25.79 on Monday. The stock has a 50-day moving average of $30.09 and a two-hundred day moving average of $27.60. Allied Gold has a one year low of $11.40 and a one year high of $32.20. The stock has a market cap of $3.25 billion and a PE ratio of -25.04.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $394.11 million during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. As a group, sell-side analysts predict that Allied Gold will post 5.45 EPS for the current fiscal year.

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.