Allied Gold (NYSE:AAUC) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Key Points

• Allied Gold reported quarterly EPS of $0.44, beating analysts’ consensus estimate of $0.25 by $0.19. The company posted a negative net margin of 9.08% and a return on equity of 36.56%.
• Shares rose 4.7% to $19.70 during mid-day trading, giving Allied Gold a market capitalization of approximately $2.49 billion. The stock remains well below its 12-month high of $32.20.
• Analyst sentiment remains mixed: recent upgrades include “outperform,” “buy” and “strong buy,” while others maintain “hold” or “sell” ratings. MarketBeat’s consensus rating is Hold.

Allied Gold (NYSE:AAUC - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.19, Zacks reports. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%.

Allied Gold Trading Up 4.7%

AAUC stock traded up $0.88 during mid-day trading on Wednesday, hitting $19.70. 729,979 shares of the company were exchanged, compared to its average volume of 808,049. The company has a market capitalization of $2.49 billion, a PE ratio of -19.13 and a beta of -0.20. Allied Gold has a twelve month low of $11.40 and a twelve month high of $32.20. The firm has a fifty day simple moving average of $23.23 and a 200 day simple moving average of $28.05.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce upgraded Allied Gold to an "outperform" rating in a research note on Thursday, July 30th. National Bank Financial downgraded Allied Gold to a "hold" rating in a report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, July 21st. Stifel Nicolaus upgraded Allied Gold from a "hold" rating to a "strong-buy" rating in a research note 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Allied Gold presently has an average rating of "Hold".

Institutional Investors Weigh In On Allied Gold

A number of institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Allied Gold during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold in the 2nd quarter worth approximately $127,000. Virtu Financial LLC acquired a new position in shares of Allied Gold in the 4th quarter worth approximately $245,000. Kovack Advisors Inc. bought a new stake in shares of Allied Gold in the 4th quarter valued at approximately $255,000. Finally, Investment Management Corp of Ontario bought a new stake in shares of Allied Gold in the 4th quarter valued at approximately $268,000.

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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