Allied Gold (NYSE:AAUC) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Allied Gold from “strong sell” to “hold,” while analyst opinions remain mixed; MarketBeat’s consensus rating is “Moderate Buy.”
• Allied Gold reported quarterly EPS of $0.44, beating the $0.25 consensus estimate by $0.19. Analysts expect full-year EPS of approximately $3.03.
• AAUC shares opened at $23.27, with a market capitalization of $3.24 billion and a 52-week range of $13.00 to $32.20.

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

AAUC has been the topic of several other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, July 21st. National Bank Financial cut shares of Allied Gold to a "hold" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group raised Allied Gold from a "hold" rating to a "buy" rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce upgraded Allied Gold to an "outperform" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus upgraded Allied Gold from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allied Gold has a consensus rating of "Moderate Buy".

Allied Gold Stock Performance

Shares of NYSE AAUC opened at $23.27 on Tuesday. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -43.10 and a beta of -0.22. Allied Gold has a fifty-two week low of $13.00 and a fifty-two week high of $32.20. The firm's 50-day simple moving average is $22.49 and its 200 day simple moving average is $27.49.

Allied Gold (NYSE:AAUC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. On average, sell-side analysts predict that Allied Gold will post 3.03 EPS for the current year.

Institutional Trading of Allied Gold

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in Allied Gold in the 1st quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in shares of Allied Gold in the fourth quarter worth about $34,000. Tower Research Capital LLC TRC bought a new position in shares of Allied Gold in the second quarter valued at approximately $127,000. Virtu Financial LLC bought a new position in shares of Allied Gold in the fourth quarter valued at approximately $245,000. Finally, Kovack Advisors Inc. purchased a new position in Allied Gold during the fourth quarter valued at approximately $255,000.

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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