Allied Gold (NYSE:AAUC) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Allied Gold (NYSE:AAUC) posted its earnings results on Wednesday. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19, Zacks reports. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%.

Allied Gold Trading Up 4.7%

AAUC opened at $19.70 on Thursday. The stock has a market cap of $2.49 billion, a PE ratio of -19.13 and a beta of -0.22. Allied Gold has a 1 year low of $11.40 and a 1 year high of $32.20. The stock’s 50 day simple moving average is $23.23 and its 200-day simple moving average is $28.05.

Institutional Investors Weigh In On Allied Gold

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Allied Gold in the 4th quarter valued at $245,000. Toronto Dominion Bank boosted its position in shares of Allied Gold by 1,336.3% during the 4th quarter. Toronto Dominion Bank now owns 197,221 shares of the company’s stock valued at $4,519,000 after acquiring an additional 183,490 shares in the last quarter. Investment Management Corp of Ontario bought a new stake in Allied Gold in the fourth quarter valued at about $268,000. Engineers Gate Manager LP bought a new stake in Allied Gold in the fourth quarter valued at about $422,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Allied Gold in the fourth quarter valued at about $780,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAUC shares. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a research report on Thursday, July 30th. Finally, National Bank Financial downgraded shares of Allied Gold to a “hold” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.