Allied Gold (NYSE:AAUC) Upgraded at Stifel Nicolaus

Allied Gold (NYSE:AAUC) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on AAUC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a research report on Thursday. Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. National Bank Financial downgraded shares of Allied Gold to a “sector perform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

Allied Gold Price Performance

AAUC stock opened at $17.76 on Wednesday. The company has a 50 day moving average price of $23.91 and a 200 day moving average price of $28.27. Allied Gold has a fifty-two week low of $11.40 and a fifty-two week high of $32.20. The stock has a market capitalization of $2.25 billion and a PE ratio of -17.25.

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 firm 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, equities analysts expect that Allied Gold will post 4.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in Allied Gold in the second quarter valued at about $13,169,000. Orion Resource Partners LP acquired a new position in Allied Gold in the second quarter valued at about $103,634,000. Tower Research Capital LLC TRC bought a new position in Allied Gold during the second quarter worth about $127,000. Vanguard Group Inc. boosted its holdings in Allied Gold by 1,824.7% during the third quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company’s stock worth $20,585,000 after buying an additional 1,116,768 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of 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 buying an additional 22,400 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.