Allied Gold Corporation (NYSE:AAUC) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Allied Gold has a consensus “Hold” rating from six analysts: two rate it a sell, one holds, two recommend buying, and one gives it a strong-buy rating. Recent recommendations have been mixed, including downgrades from Zacks Research and National Bank Financial and upgrades from CIBC and Canaccord Genuity.
• Shares opened at $22.78, down 0.5%, with a 52-week range of $11.90 to $32.20 and a market capitalization of approximately $3.17 billion.
• Allied Gold reported quarterly EPS of $0.44, exceeding the $0.25 analyst consensus estimate by $0.19. Analysts expect full-year EPS of approximately $3.03, despite the company’s negative net margin.

Allied Gold Corporation (NYSE:AAUC - Get Free Report) has earned an average recommendation of "Hold" from the six ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company.

AAUC has been the subject of a number of analyst reports. Zacks Research downgraded shares of Allied Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce raised Allied Gold to an "outperform" rating in a report on Thursday, July 30th. National Bank Financial cut Allied Gold to a "hold" rating in a research report on Wednesday, July 29th. Finally, Canaccord Genuity Group raised Allied Gold from a "hold" rating to a "buy" rating in a research report on Monday, June 1st.

Allied Gold Stock Down 0.5%

Shares of Allied Gold stock opened at $22.78 on Friday. Allied Gold has a 52-week low of $11.90 and a 52-week high of $32.20. The company has a market capitalization of $3.17 billion, a P/E ratio of -42.19 and a beta of -0.22. The company has a 50 day moving average of $22.68 and a 200 day moving average of $27.72.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. As a group, research analysts anticipate that Allied Gold will post 3.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allied Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming purchased a new position in Allied Gold in the first quarter valued at approximately $34,000. Global Retirement Partners LLC purchased a new stake in shares of Allied Gold during the 4th quarter worth approximately $34,000. Public Employees Retirement System of Ohio lifted its position in shares of Allied Gold by 11.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company's stock worth $363,000 after buying an additional 2,214 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings 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 buying an additional 3,484 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company's stock valued at $280,000 after buying an additional 5,627 shares in the last quarter.

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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