Allied Gold Corporation (NYSE:AAUC) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Allied Gold has a “Moderate Buy” consensus among six analysts, with two buy ratings, one strong buy, two holds, and one sell.
• Institutional interest has increased, with several funds—including Pictet Asset Management, State of Wyoming, and Carlson Capital—adding or initiating positions in AAUC.
• The stock opened at $20.08, well below its 52-week high of $32.20. Allied Gold recently reported quarterly EPS of $0.44, beating the $0.25 analyst consensus, though it continued to post a negative net margin.

Shares of Allied Gold Corporation (NYSE:AAUC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of equities analysts recently weighed in on AAUC shares. National Bank Financial lowered shares of Allied Gold to a "hold" rating in a research report on Wednesday, July 29th. Zacks Research upgraded Allied Gold from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Canadian Imperial Bank of Commerce raised Allied Gold to an "outperform" rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Allied Gold in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Allied Gold to a "buy" rating in a research note on Saturday.

Hedge Funds Weigh In On Allied Gold

A number of institutional investors and hedge funds have recently modified their holdings of AAUC. State of Wyoming bought a new position in shares of Allied Gold in the first quarter worth about $34,000. Pictet Asset Management Holding SA boosted its holdings in shares of Allied Gold by 48.7% in the first quarter. Pictet Asset Management Holding SA now owns 21,833 shares of the company's stock valued at $675,000 after purchasing an additional 7,151 shares during the period. Themes Management Co LLC bought a new stake in Allied Gold during the 1st quarter valued at $520,000. Squarepoint Ops LLC bought a new stake in shares of Allied Gold in the second quarter valued at about $440,000. Finally, Carlson Capital L.P. bought a new position in Allied Gold during the 1st quarter worth about $619,000.

Allied Gold Price Performance

NYSE AAUC opened at $20.08 on Friday. Allied Gold has a 1-year low of $14.60 and a 1-year high of $32.20. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -37.19 and a beta of 0.15. The business's fifty day moving average price is $21.91 and its 200-day moving average price is $25.53.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Equities research analysts anticipate that Allied Gold will post 2.73 EPS for the current year.

Allied Gold Company Profile

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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