International Assets Investment Management LLC Raises Stake in Allied Gold Corporation $AAUC

International Assets Investment Management LLC lifted its stake in shares of Allied Gold Corporation (NYSE:AAUC) by 143.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,598 shares of the company’s stock after purchasing an additional 26,830 shares during the quarter. International Assets Investment Management LLC’s holdings in Allied Gold were worth $1,423,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Allied Gold during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allied Gold during the 2nd quarter valued at approximately $127,000. Virtu Financial LLC acquired a new stake in shares of Allied Gold during the 4th quarter valued at approximately $245,000. Kovack Advisors Inc. purchased a new stake in shares of Allied Gold during the 4th quarter worth approximately $255,000. Finally, Investment Management Corp of Ontario acquired a new stake in shares of Allied Gold in the 4th quarter worth approximately $268,000.

Analyst Ratings Changes

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

Allied Gold Price Performance

Allied Gold stock opened at $23.52 on Monday. The stock has a market capitalization of $2.98 billion and a P/E ratio of -22.84. Allied Gold Corporation has a 12-month low of $11.40 and a 12-month high of $32.20. The firm’s 50-day moving average is $26.16 and its two-hundred day moving average is $28.60.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $394.11 million for the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. As a group, analysts forecast that Allied Gold Corporation will post 5.1 EPS 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.