Allied Gold (NYSE:AAUC) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Allied Gold to “Buy,” contributing to a consensus “Moderate Buy” rating. Analyst opinions remain mixed, ranging from “Strong Buy” to “Sell.”
• Allied Gold reported quarterly EPS of $0.44, beating the $0.25 consensus estimate; analysts expect full-year EPS of $2.73. The stock opened at $20.08, versus a 52-week range of $14.60 to $32.20.
• Several institutional investors recently initiated or increased positions in Allied Gold, including Groupe la Française, which raised its stake by 45.3% during the second quarter.

Allied Gold (NYSE:AAUC - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on AAUC. National Bank Financial cut shares of Allied Gold to a "hold" rating in a research report 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 raised Allied Gold to an "outperform" rating in a research note on Thursday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, July 21st. Finally, Zacks Research raised Allied Gold from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Allied Gold Stock Performance

NYSE:AAUC opened at $20.08 on Friday. Allied Gold has a fifty-two week low of $14.60 and a fifty-two week high of $32.20. The firm has a market cap of $2.80 billion, a PE ratio of -37.19 and a beta of 0.15. The business has a 50 day moving average price of $21.91 and a 200-day moving average price of $25.53.

Allied Gold (NYSE:AAUC - Get Free Report) last issued its earnings results 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 negative net margin of 4.19% and a positive return on equity of 41.36%. Research analysts predict that Allied Gold will post 2.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AAUC. Squarepoint Ops LLC purchased a new stake in Allied Gold in the second quarter worth about $440,000. Groupe la Francaise lifted its stake in shares of 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 purchasing an additional 124,443 shares during the period. XY Capital Ltd bought a new stake in shares of Allied Gold during the second quarter valued at approximately $497,000. Public Employees Retirement System of Ohio purchased a new stake in Allied Gold in the second quarter worth $668,000. Finally, Carlson Capital L.P. purchased a new stake in Allied Gold in the first quarter worth $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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