Helikon Investments Ltd Raises Position in Allied Gold Corporation $AAUC

Helikon Investments Ltd raised its holdings in shares of Allied Gold Corporation (NYSE:AAUC) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,498,498 shares of the company’s stock after acquiring an additional 1,761,864 shares during the quarter. Allied Gold comprises approximately 20.0% of Helikon Investments Ltd’s portfolio, making the stock its biggest holding. Helikon Investments Ltd owned approximately 13.23% of Allied Gold worth $377,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAUC. International Assets Investment Management LLC bought a new stake in shares of Allied Gold during the fourth quarter valued at about $429,000. Pictet Asset Management Holding SA lifted its holdings in shares of Allied Gold by 31.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after buying an additional 3,484 shares in the last quarter. UBS Group AG lifted its holdings in shares of Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after buying an additional 3,942,340 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Allied Gold by 106.7% in the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock worth $55,805,000 after buying an additional 1,257,438 shares in the last quarter. Finally, U S Global Investors Inc. purchased a new stake in shares of Allied Gold in the fourth quarter worth about $5,565,000.

Allied Gold Trading Down 3.4%

Shares of NYSE AAUC opened at $28.33 on Friday. Allied Gold Corporation has a 12 month low of $11.33 and a 12 month high of $32.20. The firm has a market capitalization of $3.57 billion and a price-to-earnings ratio of -27.50. The business has a 50-day moving average of $30.95 and a 200-day moving average of $26.75.

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 during the quarter. Allied Gold had a positive return on equity of 36.25% and a negative net margin of 9.08%. On average, analysts predict that Allied Gold Corporation will post 6.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAUC. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.