740,000 Shares in Allied Gold Corporation $AAUC Purchased by PSquared Asset Management AG

PSquared Asset Management AG purchased a new position in Allied Gold Corporation (NYSE:AAUC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 740,000 shares of the company’s stock, valued at approximately $22,901,000. Allied Gold accounts for about 8.0% of PSquared Asset Management AG’s investment portfolio, making the stock its 7th biggest position.

Several other large investors have also recently modified their holdings of AAUC. Capula Management Ltd bought a new stake in shares of Allied Gold during the first quarter valued at about $31,102,000. DLD Asset Management LP bought a new position in Allied Gold in the first quarter valued at $1,897,000. State of Wyoming bought a new position in shares of Allied Gold during the 1st quarter valued at about $34,000. Swiss National Bank raised its stake in shares of Allied Gold by 32.6% during the first quarter. Swiss National Bank now owns 211,066 shares of the company’s stock worth $6,533,000 after acquiring an additional 51,900 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Allied Gold by 143.0% in the first quarter. International Assets Investment Management LLC now owns 45,598 shares of the company’s stock worth $1,423,000 after purchasing an additional 26,830 shares during the last quarter.

Allied Gold Price Performance

Shares of AAUC stock opened at $21.17 on Friday. The company’s fifty day moving average price is $24.69 and its 200-day moving average price is $28.46. Allied Gold Corporation has a one year low of $11.40 and a one year high of $32.20. The company has a market capitalization of $2.68 billion and a price-to-earnings ratio of -20.55.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%.The business had revenue of $394.11 million during the quarter. Equities research analysts expect that Allied Gold Corporation will post 4.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. Canaccord Genuity Group raised Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. 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 Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Allied Gold has an average rating of “Reduce”.

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.