Allied Gold Corporation (NYSE:AAUC) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Allied Gold Corporation (NYSE:AAUC) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company.

Several analysts have issued reports on AAUC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Stifel Nicolaus upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Wall Street Zen raised Allied Gold to a “buy” rating in a research report on Saturday. Finally, National Bank Financial cut Allied Gold to a “hold” rating in a research note on Wednesday, July 29th.

Institutional Trading of Allied Gold

A number of institutional investors and hedge funds have recently modified their holdings of AAUC. State of Wyoming acquired a new position in shares of Allied Gold in the 1st quarter valued at about $34,000. Squarepoint Ops LLC bought a new stake in shares of Allied Gold during the 2nd quarter valued at about $440,000. XY Capital Ltd acquired a new stake in Allied Gold during the second quarter worth about $497,000. Themes Management Co LLC acquired a new stake in Allied Gold during the first quarter worth about $520,000. Finally, Carlson Capital L.P. bought a new position in Allied Gold in the first quarter worth about $619,000.

Allied Gold Stock Performance

AAUC opened at $20.21 on Friday. The company has a market capitalization of $2.82 billion, a P/E ratio of -37.43 and a beta of 0.15. The company has a 50-day moving average of $21.87 and a 200-day moving average of $25.33. Allied Gold has a 1-year low of $14.60 and a 1-year high of $32.20.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. As a group, sell-side analysts expect that Allied Gold will post 2.73 earnings per share for the current fiscal year.

Allied Gold Company Profile

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.