Allied Gold Corporation $AAUC Position Increased by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Allied Gold Corporation (NYSE:AAUC) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 644,703 shares of the company’s stock after buying an additional 111,972 shares during the quarter. Legal & General Group Plc owned about 0.52% of Allied Gold worth $14,754,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Allied Gold in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC bought a new position in shares of Allied Gold during the second quarter worth about $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allied Gold by 54.3% in the 3rd 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 during the period. Pictet Asset Management Holding SA increased its holdings in shares of Allied Gold by 31.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after acquiring an additional 3,484 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after purchasing an additional 2,214 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on AAUC. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a report on Monday. Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allied Gold currently has a consensus rating of “Hold”.

Allied Gold Stock Up 0.6%

Shares of AAUC opened at $25.71 on Wednesday. The firm has a 50-day moving average price of $29.98 and a 200 day moving average price of $27.67. The firm has a market capitalization of $3.24 billion and a PE ratio of -24.96. Allied Gold Corporation has a 52-week low of $11.40 and a 52-week high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $394.11 million for the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. On average, equities analysts expect that Allied Gold Corporation will post 5.45 EPS 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.