Allied Gold (NYSE:AAUC) Announces Quarterly Earnings Results

Allied Gold (NYSE:AAUC) posted its earnings results on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03), Zacks reports. Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%.

Allied Gold Trading Down 0.8%

Shares of Allied Gold stock traded down $0.23 on Thursday, hitting $29.28. 209,080 shares of the company traded hands, compared to its average volume of 944,332. The firm’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $26.74. The company has a market cap of $3.69 billion and a P/E ratio of -56.30. Allied Gold has a 12-month low of $11.25 and a 12-month high of $32.20.

Analysts Set New Price Targets

AAUC has been the topic of several research reports. Canaccord Genuity Group cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Institutional Trading of Allied Gold

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in Allied Gold in the 4th quarter worth $34,000. Public Employees Retirement System of Ohio raised its position in Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock worth $363,000 after purchasing an additional 2,214 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after purchasing an additional 5,627 shares during the period. Tower Research Capital LLC TRC purchased a new position in Allied Gold in the 2nd quarter worth $127,000. Finally, Geode Capital Management LLC raised its position in Allied Gold by 21.3% in the 4th quarter. Geode Capital Management LLC now owns 57,339 shares of the company’s stock worth $1,347,000 after purchasing an additional 10,086 shares during the period.

Allied Gold Company Profile

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.