Allied Gold (NYSE:AAUC) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Allied Gold (NYSE:AAUC) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks reports.

Several other analysts have also issued reports on AAUC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Monday, October 19th. Stifel Nicolaus upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Allied Gold from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. National Bank Financial lowered Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Allied Gold in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Allied Gold presently has a consensus rating of “Hold”.

Allied Gold Stock Down 2.2%

AAUC stock opened at $18.92 on Monday. Allied Gold has a 12-month low of $14.60 and a 12-month high of $32.20. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -35.04 and a beta of 0.34. The company has a 50 day moving average of $21.36 and a two-hundred day moving average of $26.01.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, beating 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, research analysts anticipate that Allied Gold will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. acquired a new position in shares of Allied Gold during the 3rd quarter valued at about $1,047,000. Squarepoint Ops LLC bought a new position in shares of Allied Gold in the second quarter valued at approximately $440,000. Groupe la Francaise lifted its stake in shares of Allied Gold by 45.3% in the second quarter. Groupe la Francaise now owns 399,126 shares of the company’s stock worth $9,491,000 after buying an additional 124,443 shares during the last quarter. XY Capital Ltd acquired a new stake in shares of Allied Gold in the second quarter worth $497,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Allied Gold in the 2nd quarter valued at $668,000.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.