CIBC Asset Management Inc Boosts Stock Holdings in Allied Gold Corporation $AAUC

CIBC Asset Management Inc raised its position in shares of Allied Gold Corporation (NYSE:AAUC) by 684.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 86,209 shares of the company’s stock after acquiring an additional 75,223 shares during the quarter. CIBC Asset Management Inc’s holdings in Allied Gold were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of AAUC. BNP Paribas Financial Markets raised its stake in shares of Allied Gold by 51.7% in the fourth quarter. BNP Paribas Financial Markets now owns 243,587 shares of the company’s stock valued at $5,573,000 after buying an additional 83,006 shares during the period. Geode Capital Management LLC grew its stake in shares of Allied Gold by 21.3% during the 4th quarter. Geode Capital Management LLC now owns 57,339 shares of the company’s stock worth $1,347,000 after acquiring an additional 10,086 shares during the period. Legal & General Group Plc increased its holdings in Allied Gold by 21.0% in the 4th quarter. Legal & General Group Plc now owns 644,703 shares of the company’s stock worth $14,754,000 after acquiring an additional 111,972 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Allied Gold in the 4th quarter valued at about $34,000. Finally, Helikon Investments Ltd raised its stake in Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock valued at $377,486,000 after acquiring an additional 1,761,864 shares during the period.

Allied Gold Stock Performance

NYSE:AAUC opened at $25.68 on Tuesday. Allied Gold Corporation has a 52-week low of $11.40 and a 52-week high of $32.20. The firm has a market cap of $3.23 billion and a price-to-earnings ratio of -24.93. The business’s fifty day moving average is $29.47 and its 200 day moving average is $28.00.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share (EPS) 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 company had revenue of $394.11 million for the quarter. Equities analysts predict that Allied Gold Corporation will post 5.45 EPS for the current fiscal year.

Analyst Ratings Changes

AAUC has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Friday, April 24th. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Canaccord Genuity Group upgraded shares of Allied Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Finally, Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allied Gold currently has a consensus rating of “Hold”.

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.