Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of “Reduce” from Analysts

Allied Gold Corporation (NYSE:AAUC) has been given a consensus recommendation of “Reduce” by the four brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company.

A number of analysts have issued reports on the company. Zacks Research downgraded Allied Gold from a “hold” rating to a “strong sell” rating in a report on Friday, April 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th.

Institutional Trading of Allied Gold

Several institutional investors and hedge funds have recently made changes to their positions in AAUC. Orion Resource Partners LP purchased a new stake in shares of Allied Gold in the 2nd quarter valued at about $103,634,000. UBS Group AG lifted its holdings in shares of Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after purchasing an additional 3,942,340 shares during the last quarter. Helikon Investments Ltd lifted its holdings in shares of Allied Gold by 25.0% in the 3rd quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock valued at $258,038,000 after purchasing an additional 2,944,721 shares during the last quarter. L1 Capital Pty Ltd purchased a new stake in shares of Allied Gold in the 4th quarter valued at about $33,826,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Allied Gold by 106.7% in the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after purchasing an additional 1,257,438 shares during the last quarter.

Allied Gold Price Performance

Shares of NYSE AAUC opened at $29.84 on Thursday. The company has a market capitalization of $3.76 billion and a price-to-earnings ratio of -57.38. The business has a 50-day moving average of $31.14 and a two-hundred day moving average of $26.49. Allied Gold has a 1 year low of $11.20 and a 1 year high of $32.20.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The business had revenue of $427.82 million for the quarter. Allied Gold had a positive return on equity of 36.52% and a negative net margin of 3.89%. As a group, equities research analysts expect that Allied Gold will post 6.18 earnings per share for the current year.

About Allied Gold

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.