Allied Gold Corporation $AAUC Position Boosted by Legal & General Group Plc

Legal & General Group Plc increased its holdings in Allied Gold Corporation (NYSE:AAUC) by 21.0% during the fourth quarter, Holdings Channel reports. The firm owned 644,703 shares of the company’s stock after purchasing an additional 111,972 shares during the period. Legal & General Group Plc’s holdings in Allied Gold were worth $14,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAUC. Global Retirement Partners LLC bought a new stake in Allied Gold during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allied Gold during the 2nd quarter valued at $127,000. Pictet Asset Management Holding SA boosted its stake in shares of Allied Gold by 31.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after acquiring an additional 3,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after acquiring an additional 5,627 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Allied Gold in the 4th quarter worth $429,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAUC. Zacks Research raised Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Finally, Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Allied Gold Stock Performance

NYSE AAUC opened at $25.71 on Wednesday. The firm’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $27.67. Allied Gold Corporation has a twelve month low of $11.40 and a twelve month high of $32.20. The stock has a market cap of $3.24 billion and a price-to-earnings ratio of -24.96.

Allied Gold (NYSE:AAUC) last issued its earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing the consensus estimate 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 business had revenue of $394.11 million during the quarter. On average, research analysts forecast that Allied Gold Corporation will post 5.45 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.