Allied Gold (NYSE:AAUC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Allied Gold (NYSE:AAUC) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Friday, April 24th. Canaccord Genuity Group cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allied Gold has an average rating of “Reduce”.

Allied Gold Price Performance

Shares of NYSE:AAUC opened at $29.80 on Monday. The stock has a market cap of $3.75 billion and a P/E ratio of -57.30. The firm has a fifty day moving average price of $31.10 and a 200 day moving average price of $26.58. Allied Gold has a 1-year low of $11.20 and a 1-year high of $32.20.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share 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%. Sell-side analysts expect that Allied Gold will post 6.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Allied Gold

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of Allied Gold in the 4th quarter valued at about $34,000. Public Employees Retirement System of Ohio increased its holdings in shares of 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 in the last quarter. 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 valued at $337,000 after purchasing an additional 3,484 shares in the last quarter. 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 valued at $280,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Cibc World Market Inc. increased 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 valued at $396,000 after purchasing an additional 7,991 shares in the last quarter.

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.