Public Employees Retirement System of Ohio Takes $668,000 Position in Allied Gold Corporation $AAUC

Public Employees Retirement System of Ohio bought a new position in Allied Gold Corporation (NYSE:AAUC) in the 2nd quarter, Holdings Channel reports. The firm bought 28,124 shares of the company’s stock, valued at approximately $668,000.

Other large investors have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new stake in Allied Gold in the first quarter worth about $38,691,000. Capula Management Ltd bought a new stake in shares of Allied Gold during the 1st quarter worth approximately $31,102,000. DLD Asset Management LP purchased a new position in Allied Gold during the 1st quarter valued at $1,897,000. Polar Asset Management Partners Inc. bought a new position in Allied Gold in the 1st quarter valued at $1,801,000. Finally, Weiss Asset Management LP bought a new position in Allied Gold in the 1st quarter valued at $18,389,000.

Allied Gold Trading Up 0.1%

Shares of AAUC stock opened at $22.93 on Thursday. Allied Gold Corporation has a twelve month low of $14.60 and a twelve month high of $32.20. The stock has a fifty day simple moving average of $22.12 and a two-hundred day simple moving average of $26.65. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -42.46 and a beta of -0.05.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share 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%. Research analysts predict that Allied Gold Corporation will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAUC. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Stifel Nicolaus upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. National Bank Financial downgraded shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allied Gold currently has an average rating of “Moderate Buy”.

Allied Gold 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.