Allied Gold (NYSE:AAUC) Stock Rating Upgraded by Stifel Nicolaus

Allied Gold (NYSE:AAUC) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a report on Thursday. Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. National Bank Financial lowered Allied Gold to a “sector perform” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Allied Gold Trading Up 4.3%

Allied Gold stock opened at $17.76 on Wednesday. The firm has a market capitalization of $2.25 billion and a P/E ratio of -17.25. The business has a 50-day moving average of $23.91 and a 200-day moving average of $28.27. Allied Gold has a 1 year low of $11.40 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $394.11 million during the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. Research analysts anticipate that Allied Gold will post 4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Allied Gold

A number of institutional investors have recently made changes to their positions in AAUC. OMERS ADMINISTRATION Corp acquired a new position in Allied Gold in the 1st quarter valued at $38,691,000. DLD Asset Management LP acquired a new stake in shares of Allied Gold during the first quarter worth $1,897,000. Capula Management Ltd acquired a new stake in shares of Allied Gold during the first quarter worth $31,102,000. UBS Group AG boosted its position in shares of Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after acquiring an additional 3,942,340 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Allied Gold in the first quarter valued at about $1,801,000.

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.