Ruffer LLP Sells 295,000 Shares of Allied Gold Corporation $AAUC

Ruffer LLP lessened its position in Allied Gold Corporation (NYSE:AAUC) by 37.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,940 shares of the company’s stock after selling 295,000 shares during the period. Ruffer LLP owned about 0.40% of Allied Gold worth $8,721,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold in the 2nd quarter valued at approximately $127,000. Bank of America Corp DE bought a new stake in Allied Gold in the second quarter valued at approximately $13,169,000. Finally, Orion Resource Partners LP acquired a new position in Allied Gold in the second quarter valued at $103,634,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAUC. Zacks Research lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday. Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus upgraded Allied Gold to a “strong-buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Allied Gold Price Performance

AAUC opened at $31.71 on Thursday. Allied Gold Corporation has a one year low of $8.40 and a one year high of $31.91. The firm’s 50 day simple moving average is $23.98. The company has a market cap of $3.95 billion and a price-to-earnings ratio of -88.07.

Allied Gold (NYSE:AAUC) last announced its earnings results on Wednesday, November 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Allied Gold had a negative net margin of 3.58% and a positive return on equity of 24.32%.

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.