Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have received an average rating of “Hold” from the four analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company.

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Stifel Nicolaus downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th.

Allied Gold Stock Performance

Shares of NYSE:AAUC opened at $25.64 on Monday. Allied Gold has a 52 week low of $11.40 and a 52 week high of $32.20. The company has a market capitalization of $3.23 billion and a PE ratio of -24.90. The company has a 50 day moving average price of $29.58 and a two-hundred day moving average price of $27.93.

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 negative net margin of 9.08% and a positive return on equity of 36.56%. The firm had revenue of $394.11 million during the quarter. On average, sell-side analysts forecast that Allied Gold will post 5.45 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Allied Gold by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock valued at $32,695,000 after purchasing an additional 75,931 shares in the last quarter. UBS Group AG grew its position in Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after purchasing an additional 3,942,340 shares in the last quarter. Helikon Investments Ltd grew its position in Allied Gold by 25.0% in the third quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock valued at $258,038,000 after purchasing an additional 2,944,721 shares in the last quarter. Mudita Advisors LLP grew its position in Allied Gold by 28.7% in the third quarter. Mudita Advisors LLP now owns 300,234 shares of the company’s stock valued at $5,248,000 after purchasing an additional 66,900 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in 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 in the last quarter.

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.