Credit Industriel ET Commercial Makes New $6.41 Million Investment in Allied Gold Corporation $AAUC

Credit Industriel ET Commercial bought a new stake in Allied Gold Corporation (NYSE:AAUC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 207,217 shares of the company’s stock, valued at approximately $6,412,000. Allied Gold makes up approximately 0.5% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 28th largest holding. Credit Industriel ET Commercial owned about 0.16% of Allied Gold as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pictet Asset Management Holding SA lifted its holdings in Allied Gold by 48.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 21,833 shares of the company’s stock valued at $675,000 after purchasing an additional 7,151 shares during the last quarter. Virtu Financial LLC bought a new stake in Allied Gold during the fourth quarter worth about $245,000. Toronto Dominion Bank increased its holdings in shares of Allied Gold by 1,336.3% during the fourth quarter. Toronto Dominion Bank now owns 197,221 shares of the company’s stock worth $4,519,000 after buying an additional 183,490 shares in the last quarter. Investment Management Corp of Ontario bought a new position in shares of Allied Gold in the fourth quarter valued at approximately $268,000. Finally, Engineers Gate Manager LP bought a new position in shares of Allied Gold in the fourth quarter valued at approximately $422,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAUC shares. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allied Gold currently has a consensus rating of “Hold”.

Allied Gold Stock Up 0.1%

AAUC stock opened at $24.09 on Tuesday. Allied Gold Corporation has a twelve month low of $11.40 and a twelve month high of $32.20. The company has a market cap of $3.05 billion and a P/E ratio of -23.38. The business has a fifty day moving average of $26.92 and a 200-day moving average of $28.60.

Allied Gold (NYSE:AAUC) last issued its 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). The company had revenue of $394.11 million for the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. As a group, equities research analysts anticipate that Allied Gold Corporation will post 5.1 earnings per share for the current fiscal year.

Allied Gold 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.