Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Allied Gold Corporation (NYSE:AAUC) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company.

A number of equities research analysts have commented on AAUC shares. Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, National Bank Financial downgraded shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th.

Hedge Funds Weigh In On Allied Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Helikon Investments Ltd lifted its stake 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 worth $377,486,000 after purchasing an additional 1,761,864 shares during the period. Bank of America Corp DE grew its position in shares of Allied Gold by 111.1% in the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after purchasing an additional 1,326,787 shares during the period. Vanguard Group Inc. grew its position in shares of 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 during the period. Absolute Gestao de Investimentos Ltda. acquired a new position in Allied Gold in the first quarter valued at $51,353,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Allied Gold during the first quarter worth about $38,691,000.

Allied Gold Trading Down 2.1%

Shares of AAUC opened at $21.14 on Wednesday. The stock has a market cap of $2.95 billion, a P/E ratio of -39.15 and a beta of -0.05. The company has a 50-day moving average of $21.94 and a two-hundred day moving average of $26.38. Allied Gold has a 12-month low of $14.60 and a 12-month high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. As a group, analysts forecast that Allied Gold will post 3.03 EPS for the current fiscal year.

About Allied Gold

Allied Gold Corporation (NYSE: AAUC) is a gold mining company focused on the exploration, development and operation of gold assets in Africa. The company produces doré, an intermediate gold product that is refined into bullion, and manages related processing, infrastructure and mine-development activities.

Allied Gold’s principal operations include the Sadiola Gold Mine in western Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. These assets provide the company with a portfolio of producing mines in established West African gold regions.

In addition to its operating mines, Allied Gold maintains exploration and development interests intended to extend mine lives and identify additional mineral resources.