Allied Gold (NYSE:AAUC) Hits New 1-Year High – Should You Buy?

Allied Gold Corporation (NYSE:AAUC)’s stock price hit a new 52-week high on Monday . The stock traded as high as $17.55 and last traded at $17.54, with a volume of 91897 shares trading hands. The stock had previously closed at $17.06.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AAUC shares. Cormark upgraded Allied Gold to a “moderate buy” rating in a research note on Friday, August 8th. Zacks Research upgraded Allied Gold to a “hold” rating in a research note on Thursday, August 14th. Finally, Wall Street Zen cut Allied Gold from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Allied Gold Price Performance

The company has a market capitalization of $2.01 billion and a P/E ratio of -27.18.

Institutional Investors Weigh In On Allied Gold

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new stake in shares of Allied Gold during the 2nd quarter worth $127,000. Bank of America Corp DE bought a new stake in shares of Allied Gold during the 2nd quarter worth $13,169,000. Finally, Orion Resource Partners LP bought a new stake in shares of Allied Gold during the 2nd quarter worth $103,634,000.

About Allied Gold

Allied Gold Corporation is a gold producer. It operates a portfolio of producing assets and development projects located principally in Cote d’Ivoire, Mali and Ethiopia. Allied Gold Corporation is based in Canada.