Allied Gold (NYSE:AAUC) Shares Gap Up – Here’s What Happened

Allied Gold Corporation (NYSE:AAUC) gapped up prior to trading on Tuesday . The stock had previously closed at $16.54, but opened at $17.12. Allied Gold shares last traded at $16.54, with a volume of 123,924 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AAUC shares. Weiss Ratings began coverage on shares of Allied Gold in a report on Thursday, October 30th. They set a “sell (d-)” rating for the company. Stifel Canada upgraded Allied Gold to a “strong-buy” rating in a research report on Thursday, November 6th. Wall Street Zen cut Allied Gold from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Cormark raised Allied Gold to a “moderate buy” rating in a report on Friday, August 8th. Finally, Zacks Research lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Allied Gold Trading Up 0.1%

The firm has a market cap of $2.05 billion and a price-to-earnings ratio of -46.03. The company has a fifty day simple moving average of $16.96.

Allied Gold (NYSE:AAUC) last released its earnings results on Wednesday, November 5th. The company reported $0.29 earnings per share 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%.

Hedge Funds Weigh In On Allied Gold

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Allied Gold during the 2nd quarter valued at $127,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Allied Gold by 54.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock valued at $280,000 after acquiring an additional 5,627 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Allied Gold by 11.9% during the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after acquiring an additional 2,214 shares during the period. Susquehanna International Group LLP acquired a new stake in Allied Gold during the third quarter worth about $366,000. Finally, Cibc World Market Inc. increased its stake in Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after acquiring an additional 7,991 shares during the last quarter.

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.