Allied Gold (NYSE:AAUC) Upgraded at National Bank Financial

Key Points

• National Bank Financial upgraded Allied Gold from “sector perform” to “outperform.” Analyst views remain mixed, though MarketBeat’s overall consensus is “Moderate Buy.”
• Allied Gold shares rose 6.5%, opening at $21.73 on Friday.
• The company reported quarterly earnings of $0.37 per share, beating the $0.19 consensus estimate, with revenue of $358.07 million.

Allied Gold (NYSE:AAUC - Get Free Report) was upgraded by research analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

Several other analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Allied Gold in a research report on Friday, October 16th. Zacks Research downgraded shares of Allied Gold from a "hold" rating to a "strong sell" rating in a research report on Monday. Stifel Nicolaus upgraded shares of Allied Gold from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Allied Gold from a "buy" rating to a "hold" rating in a report on Sunday, October 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Allied Gold in a research note on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Allied Gold Stock Up 6.5%

NYSE:AAUC opened at $21.73 on Friday. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 11.60 and a beta of 0.33. Allied Gold has a twelve month low of $14.81 and a twelve month high of $32.20. The stock's 50 day moving average price is $21.26 and its two-hundred day moving average price is $25.95.

Allied Gold (NYSE:AAUC - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.19 by $0.18. The company had revenue of $358.07 million during the quarter. Allied Gold had a positive return on equity of 42.29% and a negative net margin of 1.01%. As a group, analysts anticipate that Allied Gold will post 1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Groupe la Francaise grew its position in shares of Allied Gold by 45.3% during the 2nd quarter. Groupe la Francaise now owns 399,126 shares of the company's stock worth $9,491,000 after purchasing an additional 124,443 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Allied Gold during the first quarter worth approximately $38,691,000. Capula Management Ltd acquired a new stake in shares of Allied Gold in the first quarter valued at approximately $31,102,000. DLD Asset Management LP acquired a new stake in shares of Allied Gold in the first quarter valued at approximately $1,897,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Allied Gold in the first quarter valued at approximately $1,801,000.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold's principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d'Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.

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