Allied Gold (NYSE:AAUC) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Allied Gold (NYSE:AAUC) issued its earnings results on Wednesday. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.19 by $0.18, Zacks reports. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%.

Allied Gold Stock Up 7.9%

Shares of Allied Gold stock traded up $1.50 on Wednesday, reaching $20.45. 382,768 shares of the stock were exchanged, compared to its average volume of 711,961. The business has a 50 day moving average price of $21.36 and a two-hundred day moving average price of $26.01. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -37.88 and a beta of 0.34. Allied Gold has a twelve month low of $14.81 and a twelve month high of $32.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AAUC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th. Zacks Research cut shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday. National Bank Financial downgraded Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Stifel Nicolaus upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.