Allied Gold (NYSE:AAUC) Cut to Hold at Zacks Research

Allied Gold (NYSE:AAUC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group downgraded shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Stifel Nicolaus downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allied Gold currently has an average rating of “Reduce”.

Allied Gold Stock Performance

NYSE AAUC opened at $31.63 on Monday. The business’s 50 day moving average price is $29.63 and its 200-day moving average price is $22.18. Allied Gold has a fifty-two week low of $8.67 and a fifty-two week high of $32.08. The company has a market cap of $3.96 billion and a P/E ratio of -87.84.

Institutional Investors Weigh In On Allied Gold

Several large investors have recently added to or reduced their stakes in the stock. Helikon Investments Ltd grew its stake in Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after acquiring an additional 1,761,864 shares in the last quarter. Orion Resource Partners LP bought a new stake in shares of Allied Gold during the second quarter valued at approximately $103,634,000. UBS Group AG raised its stake in shares of Allied Gold by 3,921.0% during 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 in the last quarter. Boston Partners boosted its holdings in shares of Allied Gold by 8.4% in the fourth quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after purchasing an additional 307,675 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Allied Gold by 106.7% in the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after purchasing an additional 1,257,438 shares during the period.

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.