Allied Gold (NYSE:AAUC) Issues Earnings Results, Beats Estimates By $0.18 EPS

Allied Gold (NYSE:AAUC) posted its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.18, Zacks reports. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. The firm had revenue of $358.07 million for the quarter.

Allied Gold Price Performance

Allied Gold stock traded up $0.99 during mid-day trading on Thursday, hitting $21.40. 300,741 shares of the company’s stock traded hands, compared to its average volume of 709,643. The firm has a 50 day simple moving average of $21.29 and a two-hundred day simple moving average of $25.98. Allied Gold has a fifty-two week low of $14.81 and a fifty-two week high of $32.20. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -39.32 and a beta of 0.33.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAUC. National Bank Financial cut shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Allied Gold in a report on Friday, October 16th. Wall Street Zen downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Allied Gold has an average rating of “Hold”.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.