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

Shares of Allied Gold Corporation (NYSE:AAUC) have been given a consensus recommendation of “Reduce” by the four research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company.

Several brokerages have issued reports on AAUC. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 1st.

Allied Gold Stock Down 0.0%

AAUC opened at $20.86 on Tuesday. Allied Gold has a 52 week low of $11.40 and a 52 week high of $32.20. The business’s 50 day moving average is $24.40 and its two-hundred day moving average is $28.41. The firm has a market cap of $2.64 billion and a price-to-earnings ratio of -20.25.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm 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%. Equities analysts expect that Allied Gold will post 4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Allied Gold

Large investors have recently modified their holdings of the stock. Helikon Investments Ltd lifted its holdings in shares of Allied Gold by 12.0% during the fourth quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after purchasing an additional 1,761,864 shares during the period. Orion Resource Partners LP purchased a new position in Allied Gold during the 2nd quarter worth $103,634,000. UBS Group AG lifted its stake in shares of Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after acquiring an additional 3,942,340 shares during the period. Boston Partners boosted its holdings in shares of Allied Gold by 8.4% in the fourth quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after acquiring an additional 307,675 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Allied Gold by 111.1% in the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after acquiring an additional 1,326,787 shares in the last quarter.

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.