Oddo BHF Asset Management Sas Takes $3.40 Million Position in Allied Gold Corporation $AAUC

Oddo BHF Asset Management Sas bought a new position in shares of Allied Gold Corporation (NYSE:AAUC) in the 1st quarter, HoldingsChannel.com reports. The fund bought 109,400 shares of the company’s stock, valued at approximately $3,396,000.

A number of other institutional investors have also made changes to their positions in the stock. Orion Resource Partners LP acquired a new stake in Allied Gold in the 2nd quarter valued at approximately $103,634,000. UBS Group AG increased its stake in Allied Gold by 3,921.0% during the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after buying an additional 3,942,340 shares during the period. Helikon Investments Ltd lifted its holdings in Allied Gold by 12.0% during the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after buying an additional 1,761,864 shares in the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new stake in Allied Gold during the 1st quarter worth approximately $51,353,000. Finally, L1 Capital Pty Ltd purchased a new position in Allied Gold in the 4th quarter valued at approximately $33,826,000.

Allied Gold Trading Up 4.3%

Allied Gold stock opened at $17.76 on Friday. The company has a fifty day simple moving average of $23.91 and a 200-day simple moving average of $28.27. The stock has a market cap of $2.25 billion and a P/E ratio of -17.25. Allied Gold Corporation has a 12-month low of $11.40 and a 12-month high of $32.20.

Allied Gold (NYSE:AAUC) last posted its earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. The business had revenue of $394.11 million during the quarter. As a group, sell-side analysts forecast that Allied Gold Corporation will post 4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. National Bank Financial cut Allied Gold to a “sector perform” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Allied Gold has an average rating of “Hold”.

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.