Allied Gold Corporation (NYSE:AAUC) Given Average Recommendation of “Hold” by Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have been assigned an average rating of “Hold” from the four brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company.

AAUC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Canaccord Genuity Group upgraded shares of Allied Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th.

Hedge Funds Weigh In On Allied Gold

Several hedge funds have recently bought and sold shares of the company. Carlson Capital L.P. bought a new position in Allied Gold in the 1st quarter valued at about $619,000. Groupe la Francaise bought a new position in Allied Gold in the 1st quarter valued at about $8,512,000. Bank of America Corp DE increased its holdings in Allied Gold by 111.1% in the 1st quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after buying an additional 1,326,787 shares during the period. Oddo BHF Asset Management Sas bought a new position in Allied Gold in the 1st quarter valued at about $3,396,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Allied Gold in the 1st quarter valued at approximately $1,801,000.

Allied Gold Stock Down 2.8%

Allied Gold stock opened at $25.64 on Monday. The stock has a market capitalization of $3.23 billion and a PE ratio of -24.90. Allied Gold has a twelve month low of $11.40 and a twelve month high of $32.20. The company has a 50 day moving average of $29.58 and a 200-day moving average of $27.85.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $394.11 million during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. Equities analysts anticipate that Allied Gold will post 5.45 EPS for the current fiscal year.

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.