Allied Gold Corporation (NYSE:AAUC) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts have a consensus "Reduce" rating on Allied Gold (AAUC) from four analysts — one sell and three hold — with recent downgrades from Canaccord, Zacks, and Stifel and a reissued "sell (d-)" from Weiss Ratings.
• Multiple institutions have recently added to or increased positions in AAUC, while the stock trades near its 52-week high (opened $31.34, 52‑week high $32.08) with a market cap of $3.92 billion and a negative P/E of -87.05.

Allied Gold Corporation (NYSE:AAUC - Get Free Report) has earned a consensus recommendation of "Reduce" from the four analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and three have issued a hold rating on the company.

A number of analysts have issued reports on AAUC shares. Canaccord Genuity Group lowered Allied Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 26th. Zacks Research downgraded shares of Allied Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 9th. Stifel Nicolaus lowered shares of Allied Gold from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Allied Gold in a research report on Tuesday, January 27th.

Institutional Trading of Allied Gold

Several institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold during the 4th quarter worth $34,000. Public Employees Retirement System of Ohio raised its holdings in shares of Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company's stock worth $363,000 after purchasing an additional 2,214 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Allied Gold by 31.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company's stock valued at $337,000 after purchasing an additional 3,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Allied Gold by 54.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company's stock worth $280,000 after purchasing an additional 5,627 shares during the period. Finally, Cibc World Market Inc. grew its holdings in shares of Allied Gold by 54.4% during the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company's stock worth $396,000 after purchasing an additional 7,991 shares during the period.

Allied Gold Stock Up 0.4%

Shares of NYSE:AAUC opened at $31.34 on Wednesday. The company has a market cap of $3.92 billion and a P/E ratio of -87.05. The business has a fifty day simple moving average of $30.41 and a 200-day simple moving average of $22.79. Allied Gold has a 52 week low of $8.67 and a 52 week high of $32.08.

About Allied Gold

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.

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