Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of "Reduce" from Analysts

Key Points

• Analysts have a consensus recommendation of Reduce on Allied Gold (four firms), comprising one sell and three holds, with recent downgrades from Weiss (sell), Canaccord, Stifel and Zacks.
• Allied Gold reported quarterly EPS of $0.56 vs. $0.64 expected and revenue of $427.8M, posting a negative net margin of 3.89%; the stock trades near recent highs (opened $31.50, 52-week high $32.08, low $10.97) and shows a P/E of -60.58.
• Several institutional investors have modestly increased or initiated positions (including Pictet, Zurcher Kantonalbank, CIBC World Market and Public Employees Retirement System of Ohio), while Global Retirement Partners added a small new stake.

Shares of Allied Gold Corporation (NYSE:AAUC - Get Free Report) have received an average recommendation of "Reduce" from the four research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company.

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

Allied Gold Stock Performance

AAUC stock opened at $31.50 on Friday. The company has a fifty day moving average price of $31.32 and a 200-day moving average price of $24.74. The company has a market capitalization of $3.97 billion and a P/E ratio of -60.58. Allied Gold has a 52-week low of $10.97 and a 52-week high of $32.08.

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 the consensus estimate of $0.64 by ($0.08). The business had revenue of $427.82 million for the quarter. Allied Gold had a negative net margin of 3.89% and a positive return on equity of 36.52%.

Institutional Investors Weigh In On Allied Gold

Several large investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold during the fourth quarter worth $34,000. Public Employees Retirement System of Ohio increased its position in shares of Allied Gold by 11.9% during the third 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 period. Pictet Asset Management Holding SA increased its position in shares of Allied Gold by 31.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company's stock worth $337,000 after buying an additional 3,484 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allied Gold by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company's stock worth $280,000 after buying an additional 5,627 shares during the period. Finally, Cibc World Market Inc. increased its position in shares of Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company's stock worth $396,000 after buying an additional 7,991 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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