Mudita Advisors LLP Increases Holdings in Allied Gold Corporation $AAUC

Mudita Advisors LLP boosted its stake in Allied Gold Corporation (NYSE:AAUC) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,234 shares of the company’s stock after purchasing an additional 66,900 shares during the period. Allied Gold makes up about 1.5% of Mudita Advisors LLP’s investment portfolio, making the stock its 15th biggest holding. Mudita Advisors LLP’s holdings in Allied Gold were worth $5,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in shares of Allied Gold during the 2nd quarter valued at about $13,169,000. Orion Resource Partners LP acquired a new stake in Allied Gold in the second quarter valued at approximately $103,634,000. Tower Research Capital LLC TRC acquired a new stake in Allied Gold in the second quarter valued at approximately $127,000. Cibc World Market Inc. raised its stake in shares of Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after purchasing an additional 7,991 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Allied Gold by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock valued at $32,695,000 after purchasing an additional 75,931 shares during the period.

Allied Gold Stock Performance

Shares of AAUC stock traded down $0.14 during trading hours on Friday, hitting $31.28. 25,779 shares of the company were exchanged, compared to its average volume of 919,483. Allied Gold Corporation has a one year low of $8.67 and a one year high of $32.08. The business’s 50-day simple moving average is $29.98 and its two-hundred day simple moving average is $22.31. The stock has a market capitalization of $3.92 billion and a price-to-earnings ratio of -86.93.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAUC. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Zacks Research downgraded shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Canaccord Genuity Group cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.