Allied Gold (NYSE:AAUC) Upgraded by Stifel Canada to “Strong-Buy” Rating

Stifel Canada upgraded shares of Allied Gold (NYSE:AAUC) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently commented on AAUC. Zacks Research upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Wall Street Zen cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Cormark upgraded Allied Gold to a “moderate buy” rating in a research note on Friday, August 8th. Finally, Weiss Ratings began coverage on Allied Gold in a research report on Thursday, October 30th. They set a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Allied Gold Price Performance

AAUC stock opened at $14.84 on Thursday. The firm has a market cap of $1.83 billion and a P/E ratio of -41.22. Allied Gold has a 52-week low of $6.37 and a 52-week high of $20.49. The company’s 50-day moving average is $16.70.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.18). Allied Gold had a positive return on equity of 24.32% and a negative net margin of 3.58%.

Institutional Investors Weigh In On Allied Gold

Several large investors have recently modified their holdings of the stock. Orion Resource Partners LP bought a new stake in shares of Allied Gold in the 2nd quarter worth approximately $103,634,000. Bank of America Corp DE purchased a new stake in Allied Gold in the second quarter worth $13,169,000. Cibc World Market Inc. raised its stake in shares of Allied Gold by 54.4% in the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after buying an additional 7,991 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold during the 2nd quarter valued at $127,000.

About Allied Gold

Allied Gold Corporation is a gold producer. It operates a portfolio of producing assets and development projects located principally in Cote d’Ivoire, Mali and Ethiopia. Allied Gold Corporation is based in Canada.