Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Reduce” by Analysts

Allied Gold Corporation (NYSE:AAUC) has been assigned a consensus recommendation of “Reduce” from the four research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company.

A number of brokerages recently weighed in on AAUC. Stifel Nicolaus lowered Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th.

Allied Gold Stock Down 0.2%

Shares of AAUC stock opened at $31.86 on Friday. The firm has a market capitalization of $4.01 billion and a P/E ratio of -61.27. Allied Gold has a twelve month low of $11.20 and a twelve month high of $32.08. The stock’s fifty day simple moving average is $31.37 and its 200 day simple moving average is $25.25.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The firm had revenue of $427.82 million for the quarter. Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%.

Institutional Investors Weigh In On Allied Gold

A number of institutional investors have recently made changes to their positions in AAUC. Orion Resource Partners LP bought a new stake in shares of Allied Gold in the 2nd quarter valued at about $103,634,000. UBS Group AG grew its position in shares of Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after buying an additional 3,942,340 shares during the last quarter. Helikon Investments Ltd grew its position in shares of Allied Gold by 25.0% in the 3rd quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock valued at $258,038,000 after buying an additional 2,944,721 shares during the last quarter. L1 Capital Pty Ltd acquired a new position in shares of Allied Gold in the 4th quarter valued at about $33,826,000. Finally, Vanguard Group Inc. lifted its stake in shares of Allied Gold by 106.7% in the 4th 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.

About Allied Gold

Allied Gold (NYSE: AAUC) is a publicly listed company that operates in the gold mining sector. The firm’s business centers on identifying, acquiring and advancing gold-bearing properties with the objective of creating and operating economically viable mining assets. Allied Gold’s activities are typical of junior and mid-tier gold companies, encompassing exploration, resource definition, development planning and the eventual production and sale of gold.

Core business activities for Allied Gold include mineral exploration programs to discover and delineate gold resources, feasibility and engineering studies to assess project economics, permitting and mine development work where projects progress to the construction phase, and operational oversight for producing assets.