Allied Gold Corporation $AAUC Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Allied Gold stake by 95.5% in the first quarter, selling 109,080 shares and retaining 5,120 shares valued at approximately $160,000.
• Allied Gold shares were trading at $23.35, down 3.2%, with the stock remaining below its 200-day moving average. The company recently reported quarterly EPS of $0.44, exceeding the $0.25 consensus estimate.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy”; recent firms upgraded the stock to strong-buy, buy, or outperform, although some maintained hold or sell ratings.

Royal Bank of Canada decreased its stake in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) by 95.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,120 shares of the company's stock after selling 109,080 shares during the quarter. Royal Bank of Canada's holdings in Allied Gold were worth $160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in Allied Gold in the 1st quarter valued at $34,000. Global Retirement Partners LLC purchased a new position in shares of Allied Gold during the 4th quarter worth $34,000. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold during the 2nd quarter valued at about $127,000. Virtu Financial LLC acquired a new position in shares of Allied Gold during the 4th quarter valued at about $245,000. Finally, Kovack Advisors Inc. purchased a new stake in shares of Allied Gold in the fourth quarter valued at about $255,000.

Allied Gold Trading Down 3.2%

Shares of AAUC opened at $23.35 on Friday. The company's 50-day moving average price is $22.18 and its 200 day moving average price is $27.13. Allied Gold Corporation has a 12-month low of $13.78 and a 12-month high of $32.20. The firm has a market cap of $3.25 billion, a P/E ratio of -43.24 and a beta of -0.22.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share 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%. Equities research analysts forecast that Allied Gold Corporation will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Allied Gold Profile

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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