Allied Gold (NYSE:AAUC) Rating Increased to Strong-Buy at Stifel Nicolaus

Allied Gold (NYSE:AAUC) was upgraded by Stifel Nicolaus from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. National Bank Financial cut Allied Gold to a “sector perform” rating in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Allied Gold Stock Up 4.3%

Shares of AAUC opened at $17.76 on Wednesday. The company has a 50-day moving average price of $23.91 and a two-hundred day moving average price of $28.27. The stock has a market cap of $2.25 billion and a price-to-earnings ratio of -17.25. Allied Gold has a 12 month low of $11.40 and a 12 month high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data 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). Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. The company had revenue of $394.11 million during the quarter. Equities research analysts expect that Allied Gold will post 4.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Allied Gold

Institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Allied Gold in the first quarter worth $34,000. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC bought a new position in shares of Allied Gold in the second quarter valued at about $127,000. Virtu Financial LLC bought a new position in shares of Allied Gold in the fourth quarter valued at about $245,000. Finally, Kovack Advisors Inc. acquired a new position in Allied Gold during the 4th quarter worth about $255,000.

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.