Allied Gold (NYSE:AAUC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Allied Gold (NYSE:AAUC) from a buy rating to a hold rating in a research report released on Sunday,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, National Bank Financial downgraded Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Allied Gold Stock Performance

Shares of Allied Gold stock opened at $20.29 on Friday. The company has a market capitalization of $2.83 billion, a PE ratio of 12.02 and a beta of 0.15. The company has a 50-day simple moving average of $22.06 and a two-hundred day simple moving average of $24.94. Allied Gold has a one year low of $14.60 and a one year 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%. On average, equities analysts predict that Allied Gold will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allied Gold

Large investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Allied Gold in the 1st quarter valued at $34,000. Themes Management Co LLC purchased a new position in Allied Gold in the 1st quarter worth $520,000. Squarepoint Ops LLC acquired a new stake in Allied Gold during the 2nd quarter worth about $440,000. Carlson Capital L.P. acquired a new stake in Allied Gold during the 1st quarter worth about $619,000. Finally, XY Capital Ltd acquired a new stake in Allied Gold during the 2nd quarter worth about $497,000.

About Allied Gold

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.