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

Shares of Allied Gold Corporation (NYSE:AAUC - Get Free Report) have received an average rating of "Reduce" from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered shares of Allied Gold from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Zacks Research lowered shares of Allied Gold from a "hold" rating to a "strong sell" rating in a report on Friday, April 10th. Canaccord Genuity Group lowered shares of Allied Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, January 26th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a report on Friday, April 24th.

Allied Gold Price Performance

AAUC stock opened at $29.89 on Thursday. Allied Gold has a 12 month low of $11.20 and a 12 month high of $32.20. The firm has a market cap of $3.76 billion and a PE ratio of -57.49. The firm has a 50 day simple moving average of $31.25 and a 200 day simple moving average of $26.25.

Allied Gold (NYSE:AAUC - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.08). Allied Gold had a negative net margin of 3.89% and a positive return on equity of 36.52%. The firm had revenue of $427.82 million for the quarter. As a group, sell-side analysts expect that Allied Gold will post 6.18 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

A number of large investors have recently made changes to their positions in AAUC. Orion Resource Partners LP acquired a new stake in shares of Allied Gold during the second quarter valued at approximately $103,634,000. UBS Group AG raised its holdings in shares of Allied Gold by 3,921.0% during the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company's stock valued at $92,501,000 after acquiring an additional 3,942,340 shares during the period. Helikon Investments Ltd increased its stake in Allied Gold by 25.0% in the 3rd quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company's stock valued at $258,038,000 after buying an additional 2,944,721 shares during the period. L1 Capital Pty Ltd acquired a new position in Allied Gold in the 4th quarter valued at approximately $33,826,000. Finally, Vanguard Group Inc. increased its stake in Allied Gold by 106.7% in the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company's stock valued at $55,805,000 after buying an additional 1,257,438 shares during the period.

Allied Gold Company 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.

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