Allied Gold (NYSE:AAUC) Sees Large Volume Increase – Time to Buy?

Allied Gold Corporation (NYSE:AAUC) saw an uptick in trading volume on Thursday . 257,230 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 135,361 shares.The stock last traded at $17.2740 and had previously closed at $16.72.

Wall Street Analysts Forecast Growth

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

Allied Gold Price Performance

The stock has a fifty day moving average price of $17.04. The company has a market cap of $2.01 billion and a price-to-earnings ratio of -44.94.

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

Institutional Trading of Allied Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its position in Allied Gold by 11.9% during the 3rd 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. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Allied Gold by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock valued at $280,000 after purchasing an additional 5,627 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after purchasing an additional 7,991 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Allied Gold in the 2nd quarter worth approximately $127,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Allied Gold in the 3rd quarter worth approximately $366,000.

Allied Gold Company Profile

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.