Allied Gold (NYSE:AAUC) Stock Rating Lowered by Wall Street Zen

Allied Gold (NYSE:AAUC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Canadian Imperial Bank of Commerce raised Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Finally, National Bank Financial lowered Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Allied Gold Price Performance

Shares of Allied Gold stock opened at $20.13 on Friday. The firm has a 50 day simple moving average of $22.03 and a 200 day simple moving average of $25.01. Allied Gold has a fifty-two week low of $14.60 and a fifty-two week high of $32.20. The firm has a market cap of $2.81 billion, a P/E ratio of -37.28 and a beta of 0.15.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. On average, sell-side analysts expect that Allied Gold will post 2.25 EPS for the current year.

Institutional Investors Weigh In On Allied Gold

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Allied Gold by 111.1% in the 1st quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after buying an additional 1,326,787 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Allied Gold in the 1st quarter valued at $51,353,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Allied Gold in the 1st quarter valued at $38,691,000. Capula Management Ltd acquired a new stake in Allied Gold during the 1st quarter worth $31,102,000. Finally, PSquared Asset Management AG acquired a new stake in Allied Gold during the 1st quarter worth $22,901,000.

About Allied Gold

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.