Helikon Investments Ltd Increases Stake in Allied Gold Corporation $AAUC

Helikon Investments Ltd lifted its position in shares of Allied Gold Corporation (NYSE:AAUC) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,498,498 shares of the company’s stock after purchasing an additional 1,761,864 shares during the quarter. Allied Gold accounts for about 20.0% of Helikon Investments Ltd’s holdings, making the stock its largest holding. Helikon Investments Ltd owned about 0.13% of Allied Gold worth $377,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Allied Gold during the second quarter valued at approximately $127,000. 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. Pictet Asset Management Holding SA lifted its stake in Allied Gold by 31.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after purchasing an additional 3,484 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Allied Gold by 11.9% during the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after buying an additional 2,214 shares during the period. Finally, Susquehanna International Group LLP bought a new position in shares of Allied Gold during the third quarter valued at about $366,000.

Allied Gold Stock Down 3.4%

Shares of NYSE AAUC opened at $28.33 on Friday. Allied Gold Corporation has a 52 week low of $11.33 and a 52 week high of $32.20. The firm’s fifty day moving average is $30.95 and its 200 day moving average is $26.75. The company has a market cap of $3.57 billion and a price-to-earnings ratio of -27.50.

Allied Gold (NYSE:AAUC) last issued its earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Allied Gold had a positive return on equity of 36.25% and a negative net margin of 9.08%.The firm had revenue of $394.11 million during the quarter. Equities research analysts anticipate that Allied Gold Corporation will post 6.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on AAUC shares. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allied Gold 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.