Allied Gold Corporation (NYSE:AAUC) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Allied Gold Corporation received a consensus “Hold” rating from four analysts, with one sell, two hold, and one buy recommendation. Recent ratings were mixed, including a Zacks upgrade to hold and a Canaccord Genuity upgrade to buy.
• The company’s stock was trading at $20.36, below both its 50-day moving average of $25.18 and 200-day moving average of $28.49, with a market cap of $2.58 billion. Its shares have ranged from a 52-week low of $11.40 to a high of $32.20.
• Allied Gold reported Q1 earnings of $0.39 per share, missing analyst expectations by $0.03, on revenue of $394.11 million. Analysts currently expect the company to post 5.1 EPS for the current fiscal year.

Shares of Allied Gold Corporation (NYSE:AAUC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the four ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company.

Several equities analysts recently issued reports on AAUC shares. Zacks Research upgraded Allied Gold from a "strong sell" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Canaccord Genuity Group raised shares of Allied Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 1st.

Hedge Funds Weigh In On Allied Gold

Several large investors have recently bought and sold shares of AAUC. Helikon Investments Ltd grew 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 acquiring an additional 1,761,864 shares during the period. Orion Resource Partners LP bought a new position in shares of Allied Gold in the 2nd quarter worth $103,634,000. UBS Group AG boosted its position in shares of Allied Gold by 3,921.0% in the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company's stock worth $92,501,000 after purchasing an additional 3,942,340 shares during the last quarter. Boston Partners grew its stake in shares of Allied Gold by 8.4% during the fourth quarter. Boston Partners now owns 3,967,412 shares of the company's stock worth $90,774,000 after purchasing an additional 307,675 shares during the period. Finally, Bank of America Corp DE increased its holdings in Allied Gold by 111.1% in the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company's stock valued at $78,267,000 after purchasing an additional 1,326,787 shares during the last quarter.

Allied Gold Stock Performance

NYSE:AAUC opened at $20.36 on Tuesday. The stock's fifty day moving average price is $25.18 and its two-hundred day moving average price is $28.49. Allied Gold has a 52-week low of $11.40 and a 52-week high of $32.20. The company has a market cap of $2.58 billion and a price-to-earnings ratio of -19.76.

Allied Gold (NYSE:AAUC - Get Free Report) last released 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). The firm had revenue of $394.11 million during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. On average, equities analysts predict that Allied Gold will post 5.1 EPS for the current fiscal year.

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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