Polar Asset Management Partners Inc. Buys New Stake in Allied Gold Corporation $AAUC

Polar Asset Management Partners Inc. bought a new stake in shares of Allied Gold Corporation (NYSE:AAUC) during the first quarter, HoldingsChannel reports. The fund bought 58,300 shares of the company’s stock, valued at approximately $1,801,000.

Several other hedge funds also recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in shares of Allied Gold in the second quarter worth $13,169,000. Orion Resource Partners LP acquired a new stake in shares of Allied Gold during the second quarter valued at $103,634,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allied Gold during the second quarter valued at $127,000. Vanguard Group Inc. increased its position in Allied Gold by 1,824.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company’s stock worth $20,585,000 after purchasing an additional 1,116,768 shares in the last quarter. Finally, Swiss National Bank increased its position in Allied Gold by 16.4% during the 3rd quarter. Swiss National Bank now owns 159,166 shares of the company’s stock worth $2,783,000 after purchasing an additional 22,400 shares in the last quarter.

Allied Gold Stock Down 0.0%

AAUC stock opened at $20.86 on Tuesday. Allied Gold Corporation has a 52-week low of $11.40 and a 52-week high of $32.20. The stock’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $28.41. The stock has a market capitalization of $2.64 billion and a price-to-earnings ratio of -20.25.

Allied Gold (NYSE:AAUC) last announced 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). The business had revenue of $394.11 million during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. As a group, analysts anticipate that Allied Gold Corporation will post 4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AAUC has been the topic of a number of recent research reports. Zacks Research lowered shares of Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Allied Gold Profile

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.