Allied Gold Corporation (NYSE:AAUC) Given Average Recommendation of “Hold” by Brokerages

Shares of Allied Gold Corporation (NYSE:AAUC) have been assigned a consensus rating of “Hold” from the four research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company.

AAUC has been the topic of a number of research analyst reports. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Weiss Ratings reissued 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 research note on Monday, May 11th.

Hedge Funds Weigh In On Allied Gold

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new position in shares of Allied Gold in the 2nd quarter valued at $13,169,000. Orion Resource Partners LP purchased a new position in Allied Gold during the 2nd quarter worth $103,634,000. Tower Research Capital LLC TRC purchased a new position in Allied Gold during the 2nd quarter worth $127,000. JPMorgan Chase & Co. increased its stake in Allied Gold by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock valued at $32,695,000 after purchasing an additional 75,931 shares during the period. Finally, Vanguard Group Inc. increased its stake in Allied Gold by 1,824.7% in the third quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company’s stock valued at $20,585,000 after purchasing an additional 1,116,768 shares during the period.

Allied Gold Price Performance

NYSE AAUC opened at $24.79 on Friday. The firm’s fifty day moving average price is $27.06 and its 200 day moving average price is $28.59. The company has a market capitalization of $3.14 billion and a price-to-earnings ratio of -24.06. Allied Gold has a 12 month low of $11.40 and a 12 month high of $32.20.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share 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 company had revenue of $394.11 million during the quarter. As a group, sell-side analysts forecast that Allied Gold will post 5.1 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.