Allied Gold (NYSE:AAUC) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Allied Gold (NYSE:AAUC) posted its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.18, Zacks reports. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%.

Allied Gold Trading Up 7.9%

Allied Gold stock traded up $1.50 during mid-day trading on Wednesday, reaching $20.45. The company had a trading volume of 382,768 shares, compared to its average volume of 711,961. Allied Gold has a fifty-two week low of $14.81 and a fifty-two week high of $32.20. The company has a market cap of $2.85 billion, a P/E ratio of -37.88 and a beta of 0.34. The business has a fifty day simple moving average of $21.36 and a 200 day simple moving average of $26.01.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAUC. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th. National Bank Financial lowered shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th. Zacks Research cut shares of Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Wall Street Zen downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Allied Gold presently has a consensus rating of “Hold”.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.