Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Moderate Buy” by Analysts

Allied Gold Corporation (NYSE:AAUC) has been given a consensus rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company.

A number of brokerages recently weighed in on AAUC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an “outperform” rating in a research report on Thursday, July 30th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, National Bank Financial lowered shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th.

Allied Gold Stock Down 2.9%

Shares of NYSE:AAUC opened at $22.93 on Wednesday. The firm has a 50 day moving average of $22.14 and a 200 day moving average of $26.70. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -42.46 and a beta of -0.05. Allied Gold has a 52 week low of $14.60 and a 52 week high of $32.20.

Allied Gold (NYSE:AAUC) last announced its earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. On average, sell-side analysts expect that Allied Gold will post 3.03 EPS for the current year.

Hedge Funds Weigh In On Allied Gold

Several institutional investors and hedge funds have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Allied Gold in the first quarter worth $38,691,000. Groupe la Francaise grew its holdings in shares of Allied Gold by 45.3% during the second quarter. Groupe la Francaise now owns 399,126 shares of the company’s stock valued at $9,491,000 after buying an additional 124,443 shares during the last quarter. Capula Management Ltd purchased a new stake in shares of Allied Gold during the first quarter valued at $31,102,000. DLD Asset Management LP acquired a new position in shares of Allied Gold in the 1st quarter valued at $1,897,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Allied Gold in the 1st quarter valued at $1,801,000.

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.