Allied Gold Corporation (NYSE:AAUC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company.

Several analysts have recently commented on the stock. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, National Bank Financial downgraded Allied Gold to a “hold” rating in a research report on Wednesday, July 29th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Helikon Investments Ltd lifted its holdings in Allied Gold by 12.0% in the fourth quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock valued at $377,486,000 after acquiring an additional 1,761,864 shares during the period. Orion Resource Partners LP purchased a new stake in Allied Gold in the 2nd quarter worth approximately $103,634,000. Boston Partners grew its stake in shares of Allied Gold by 8.4% during the 4th quarter. Boston Partners now owns 3,967,412 shares of the company’s stock worth $90,774,000 after purchasing an additional 307,675 shares during the period. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 1,326,787 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Allied Gold by 106.7% during the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after purchasing an additional 1,257,438 shares in the last quarter.

Allied Gold Stock Down 2.9%

Shares of NYSE AAUC opened at $22.93 on Wednesday. Allied Gold has a 52 week low of $14.60 and a 52 week high of $32.20. The business’s 50 day moving average price is $22.14 and its 200 day moving average price is $26.70. The firm has a market cap of $3.19 billion, a P/E ratio of -42.46 and a beta of -0.05.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share (EPS) 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%. As a group, research analysts expect that Allied Gold will post 3.03 earnings per share for the current year.

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.