Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Hold” by Analysts

Allied Gold Corporation (NYSE:AAUC) has earned an average rating of “Hold” from the four analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company.

AAUC has been the topic of several recent research reports. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st.

Institutional Investors Weigh In On Allied Gold

Several hedge funds have recently bought and sold shares of AAUC. Orion Resource Partners LP purchased a new stake in Allied Gold in the 2nd quarter worth approximately $103,634,000. UBS Group AG boosted its position in Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after purchasing an additional 3,942,340 shares in the last quarter. Helikon Investments Ltd lifted its position in shares of Allied Gold by 12.0% during the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock valued at $377,486,000 after buying an additional 1,761,864 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Allied Gold during the 1st quarter valued at approximately $51,353,000. Finally, L1 Capital Pty Ltd purchased a new position in shares of Allied Gold during the 4th quarter valued at approximately $33,826,000.

Allied Gold Stock Performance

NYSE:AAUC opened at $23.59 on Friday. Allied Gold has a one year low of $11.40 and a one year high of $32.20. The firm has a market cap of $2.99 billion and a price-to-earnings ratio of -22.91. The firm’s fifty day moving average is $27.37 and its two-hundred day moving average is $28.56.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data 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 company had revenue of $394.11 million during the quarter. As a group, equities research analysts predict that Allied Gold will post 5.1 earnings per share 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.