Allied Gold (NYSE:AAUC) Upgraded at Zacks Research

Key Points

• Allied Gold (NYSE:AAUC) received an upgrade from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating increased investor confidence.
• The stock has recently experienced a 2.6% increase and is currently priced at $18.83, with a 52-week range of $6.37 to $19.00.
• Major institutional investments, including Bank of America and Orion Resource Partners, have recently acquired significant stakes in Allied Gold, signaling strong interest from large investors.

Allied Gold (NYSE:AAUC - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

AAUC has been the topic of a number of other research reports. Cormark raised shares of Allied Gold to a "moderate buy" rating in a research report on Friday, August 8th. Wall Street Zen cut Allied Gold from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Allied Gold Stock Up 2.6%

NYSE AAUC opened at $18.83 on Tuesday. Allied Gold has a 52-week low of $6.37 and a 52-week high of $19.00. The company has a market capitalization of $2.17 billion and a PE ratio of -29.42.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in Allied Gold during the 2nd quarter worth approximately $127,000. Bank of America Corp DE bought a new stake in Allied Gold during the second quarter worth $13,169,000. Finally, Orion Resource Partners LP acquired a new stake in Allied Gold in the second quarter valued at about $103,634,000.

About Allied Gold

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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