DLD Asset Management LP Invests $1.90 Million in Allied Gold Corporation $AAUC

DLD Asset Management LP acquired a new stake in Allied Gold Corporation (NYSE:AAUC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 61,100 shares of the company’s stock, valued at approximately $1,897,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in Allied Gold during the 1st quarter valued at $34,000. Swiss National Bank boosted its stake in Allied Gold by 32.6% during the first quarter. Swiss National Bank now owns 211,066 shares of the company’s stock valued at $6,533,000 after buying an additional 51,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Allied Gold by 143.0% during the first quarter. International Assets Investment Management LLC now owns 45,598 shares of the company’s stock worth $1,423,000 after acquiring an additional 26,830 shares during the period. Credit Industriel ET Commercial bought a new stake in Allied Gold in the first quarter worth about $6,412,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Allied Gold by 48.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 21,833 shares of the company’s stock valued at $675,000 after acquiring an additional 7,151 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAUC. Zacks Research cut shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Allied Gold Price Performance

Allied Gold stock opened at $21.62 on Thursday. Allied Gold Corporation has a fifty-two week low of $11.40 and a fifty-two week high of $32.20. The firm’s 50 day simple moving average is $24.85 and its 200-day simple moving average is $28.47. The company has a market cap of $2.74 billion and a P/E ratio of -21.00.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%.The firm had revenue of $394.11 million during the quarter. On average, analysts expect that Allied Gold Corporation will post 4.52 EPS for the current fiscal year.

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.