Groupe la Francaise Buys 124,443 Shares of Allied Gold Corporation $AAUC

Groupe la Francaise raised its stake in Allied Gold Corporation (NYSE:AAUC) by 45.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 399,126 shares of the company’s stock after buying an additional 124,443 shares during the period. Groupe la Francaise’s holdings in Allied Gold were worth $9,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Helikon Investments Ltd grew its position in shares of Allied Gold by 12.0% during the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after buying an additional 1,761,864 shares during the period. Orion Resource Partners LP acquired a new stake in shares of Allied Gold in the 2nd quarter valued at approximately $103,634,000. Boston Partners raised its position in shares of Allied Gold by 8.4% in the 4th quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after acquiring an additional 307,675 shares during the period. Bank of America Corp DE boosted its stake in Allied Gold by 111.1% during the 1st quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock worth $78,267,000 after acquiring an additional 1,326,787 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Allied Gold by 106.7% during the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock worth $55,805,000 after acquiring an additional 1,257,438 shares during the last quarter.

Analyst Ratings Changes

AAUC has been the topic of several analyst reports. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. National Bank Financial lowered shares of Allied Gold to a “hold” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a research report on Thursday, July 30th. Stifel Nicolaus raised Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Allied Gold presently has an average rating of “Moderate Buy”.

Allied Gold Stock Down 0.1%

Shares of NYSE:AAUC opened at $23.59 on Monday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -43.69 and a beta of -0.05. Allied Gold Corporation has a 12 month low of $14.40 and a 12 month high of $32.20. The company’s fifty day simple moving average is $22.15 and its 200 day simple moving average is $26.82.

Allied Gold (NYSE:AAUC) last announced its earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. Research analysts expect that Allied Gold Corporation will post 3.03 earnings per share for the current fiscal year.

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.