Allied Gold (NYSE:AAUC) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus lowered shares of Allied Gold (NYSE:AAUC) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

Several other analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, January 27th. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Zacks Research raised Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Allied Gold Stock Down 0.6%

Shares of NYSE:AAUC opened at $31.37 on Tuesday. The business’s 50-day simple moving average is $26.66. Allied Gold has a one year low of $8.67 and a one year high of $32.08. The company has a market cap of $3.91 billion and a PE ratio of -87.13.

Hedge Funds Weigh In On Allied Gold

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Allied Gold in the 4th quarter valued at $34,000. Public Employees Retirement System of Ohio lifted its stake in shares of Allied Gold by 11.9% in the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after buying an additional 2,214 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Allied Gold by 31.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock valued at $337,000 after buying an additional 3,484 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allied Gold by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of Allied Gold by 54.4% in the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after acquiring an additional 7,991 shares during the last quarter.

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.