Ruffer LLP Sells 295,000 Shares of Allied Gold Corporation $AAUC

Ruffer LLP decreased its position in shares of Allied Gold Corporation (NYSE:AAUC) by 37.2% during the third quarter, Holdings Channel reports. The fund owned 498,940 shares of the company’s stock after selling 295,000 shares during the period. Ruffer LLP’s holdings in Allied Gold were worth $8,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAUC. Tower Research Capital LLC TRC purchased a new stake in Allied Gold in the second quarter worth $127,000. Bank of America Corp DE purchased a new stake in shares of Allied Gold in the 2nd quarter worth about $13,169,000. Finally, Orion Resource Partners LP bought a new position in shares of Allied Gold in the 2nd quarter worth about $103,634,000.

Allied Gold Trading Up 0.0%

Shares of Allied Gold stock opened at $31.71 on Thursday. The business has a fifty day moving average of $23.98. Allied Gold Corporation has a one year low of $8.40 and a one year high of $31.91. The company has a market cap of $3.95 billion and a PE ratio of -88.07.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.18). Allied Gold had a positive return on equity of 24.32% and a negative net margin of 3.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAUC shares. Canaccord Genuity Group downgraded shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Zacks Research downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Stifel Nicolaus upgraded shares of Allied Gold to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus 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.