Allied Gold (NYSE:AAUC) Sees Large Volume Increase - Here's What Happened

Key Points

• Allied Gold Corporation experienced a significant trading volume surge, with approximately 178,394 shares traded, marking a 126% increase compared to the previous session.
• Analyst ratings for AAUC have varied, with Zacks upgrading it to a "hold," while Wall Street Zen downgraded it to "hold," and Cormark raised it to a "moderate buy."
• The company's market cap stands at $2.10 billion, with a price-to-earnings ratio of 36.06, indicating its financial standing in the market.

Allied Gold Corporation (NYSE:AAUC - Get Free Report) saw unusually-high trading volume on Friday . Approximately 178,394 shares traded hands during trading, an increase of 126% from the previous session's volume of 79,098 shares.The stock last traded at $18.24 and had previously closed at $18.39.

Analyst Ratings Changes

AAUC has been the topic of several research analyst reports. Zacks Research upgraded shares of Allied Gold to a "hold" rating in a report on Thursday, August 14th. Wall Street Zen lowered shares of Allied Gold from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Cormark raised shares of Allied Gold to a "moderate buy" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold".

Allied Gold Trading Down 0.9%

The company has a market cap of $2.10 billion and a price-to-earnings ratio of 36.06.

Institutional Trading of Allied Gold

Several large investors have recently added to or reduced their stakes in AAUC. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold during the second quarter worth approximately $127,000. Bank of America Corp DE acquired a new position in shares of Allied Gold during the second quarter worth approximately $13,169,000. Finally, Orion Resource Partners LP acquired a new position in shares of Allied Gold during the second quarter worth approximately $103,634,000.

Allied Gold Company Profile

Allied Gold Corporation is a gold producer. It operates a portfolio of producing assets and development projects located principally in Cote d'Ivoire, Mali and Ethiopia. Allied Gold Corporation is based in Canada.

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