Allied Gold (NYSE:AAUC) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Allied Gold from “Buy” to “Hold,” while analysts’ ratings remain mixed; MarketBeat’s consensus view is “Moderate Buy.”
• Allied Gold shares opened at $20.60, with a market capitalization of approximately $2.87 billion and a 52-week trading range of $14.60 to $32.20.
• The company reported quarterly EPS of $0.44, beating the $0.25 consensus estimate by $0.19; institutional investors have also recently initiated or increased positions in the stock.

Allied Gold (NYSE:AAUC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other research analysts have also commented on AAUC. National Bank Financial lowered shares of Allied Gold to a "hold" rating in a research note on Wednesday, July 29th. Stifel Nicolaus upgraded shares of Allied Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an "outperform" rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allied Gold in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded shares of Allied Gold from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allied Gold presently has a consensus rating of "Moderate Buy".

Allied Gold Stock Up 4.9%

AAUC opened at $20.60 on Friday. The firm has a 50 day moving average price of $22.01 and a 200-day moving average price of $25.13. Allied Gold has a twelve month low of $14.60 and a twelve month high of $32.20. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -38.15 and a beta of 0.15.

Allied Gold (NYSE:AAUC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. As a group, analysts expect that Allied Gold will post 2.25 earnings per share for the current year.

Institutional Trading of Allied Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of AAUC. Squarepoint Ops LLC bought a new position in shares of Allied Gold in the second quarter worth about $440,000. Groupe la Francaise boosted its position in Allied Gold by 45.3% in the 2nd quarter. Groupe la Francaise now owns 399,126 shares of the company's stock valued at $9,491,000 after buying an additional 124,443 shares during the period. XY Capital Ltd purchased a new stake in Allied Gold in the 2nd quarter valued at about $497,000. Public Employees Retirement System of Ohio bought a new position in Allied Gold in the 2nd quarter worth about $668,000. Finally, Carlson Capital L.P. bought a new position in Allied Gold in the 1st quarter worth about $619,000.

About Allied Gold

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company's portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold's principal operating assets include the Bonikro and Agbaou mines in Côte d'Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.

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