International Assets Investment Management LLC Makes New $429,000 Investment in Allied Gold Corporation $AAUC

International Assets Investment Management LLC acquired a new stake in shares of Allied Gold Corporation (NYSE:AAUC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,768 shares of the company’s stock, valued at approximately $429,000.

A number of other institutional investors have also modified their holdings of AAUC. Bank of America Corp DE bought a new stake in shares of Allied Gold during the 2nd quarter valued at about $13,169,000. Orion Resource Partners LP bought a new stake in shares of Allied Gold during the 2nd quarter valued at about $103,634,000. Tower Research Capital LLC TRC bought a new stake in shares of Allied Gold during the 2nd quarter valued at about $127,000. Cibc World Market Inc. grew its position in shares of Allied Gold by 54.4% during the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after buying an additional 7,991 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Allied Gold by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock valued at $32,695,000 after buying an additional 75,931 shares during the last quarter.

Allied Gold Stock Up 0.8%

Allied Gold stock opened at $29.84 on Tuesday. The firm has a 50-day moving average price of $31.14 and a two-hundred day moving average price of $26.49. The firm has a market capitalization of $3.76 billion and a price-to-earnings ratio of -57.38. Allied Gold Corporation has a 52-week low of $11.20 and a 52-week high of $32.20.

Allied Gold (NYSE:AAUC) last posted its earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share (EPS) 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 negative net margin of 3.89% and a positive return on equity of 36.52%. Research analysts expect that Allied Gold Corporation will post 6.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAUC. Stifel Nicolaus downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Canaccord Genuity Group downgraded shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Allied Gold 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.