Groupe la Francaise Makes New Investment in Allied Gold Corporation $AAUC

Groupe la Francaise acquired a new position in shares of Allied Gold Corporation (NYSE:AAUC) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 274,683 shares of the company’s stock, valued at approximately $8,512,000.

A number of other large investors have also made changes to their positions in the stock. State of Wyoming bought a new stake in shares of Allied Gold in the first quarter valued at about $34,000. Global Retirement Partners LLC acquired a new stake in Allied Gold during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC bought a new position in Allied Gold during the second quarter valued at about $127,000. Virtu Financial LLC bought a new position in Allied Gold during the fourth quarter valued at about $245,000. Finally, Kovack Advisors Inc. acquired a new position in Allied Gold in the 4th quarter valued at approximately $255,000.

Allied Gold Trading Up 1.9%

Shares of AAUC opened at $18.18 on Friday. The stock has a market cap of $2.30 billion and a PE ratio of -17.65. Allied Gold Corporation has a 1 year low of $11.40 and a 1 year high of $32.20. The stock has a 50 day simple moving average of $23.72 and a 200-day simple moving average of $28.20.

Allied Gold (NYSE:AAUC) last announced its quarterly 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 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. On average, sell-side analysts forecast that Allied Gold Corporation will post 4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.