Allied Gold Corporation $AAUC Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its Allied Gold stake by 51.5% in the first quarter, selling 44,374 shares and leaving it with 41,841 shares worth about $1.3 million.
• Other institutional investors showed mixed activity, with firms like UBS Group, Helikon Investments, Vanguard, and Orion Resource Partners making sizable purchases or increasing positions in AAUC.
• Allied Gold shares rose 1.6% to $23.52, while the company’s latest earnings came in below expectations, reporting $0.39 EPS versus the $0.42 consensus estimate.

Y Intercept Hong Kong Ltd cut its stake in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,841 shares of the company's stock after selling 44,374 shares during the period. Y Intercept Hong Kong Ltd's holdings in Allied Gold were worth $1,299,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Resource Partners LP purchased a new position in shares of Allied Gold in the 2nd quarter valued at approximately $103,634,000. UBS Group AG raised its stake in shares of Allied Gold by 3,921.0% during the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company's stock worth $92,501,000 after purchasing an additional 3,942,340 shares during the last quarter. Helikon Investments Ltd lifted its holdings in shares of Allied Gold by 12.0% during the fourth quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company's stock worth $377,486,000 after purchasing an additional 1,761,864 shares during the period. L1 Capital Pty Ltd acquired a new stake in shares of Allied Gold during the fourth quarter worth $33,826,000. Finally, Vanguard Group Inc. grew its position in Allied Gold by 106.7% in the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company's stock valued at $55,805,000 after buying an additional 1,257,438 shares during the last quarter.

Wall Street Analysts Forecast Growth

AAUC has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a research report on Friday, April 24th. Canaccord Genuity Group raised shares of Allied Gold from a "hold" rating to a "buy" rating in a report on Monday, June 1st. Finally, Zacks Research upgraded shares of Allied Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold".

Allied Gold Stock Up 1.6%

Shares of Allied Gold stock traded up $0.36 during trading on Friday, reaching $23.52. The company's stock had a trading volume of 683,343 shares, compared to its average volume of 439,128. The business has a 50 day moving average price of $26.16 and a 200-day moving average price of $28.58. Allied Gold Corporation has a 12-month low of $11.40 and a 12-month high of $32.20. The company has a market capitalization of $2.98 billion and a P/E ratio of -22.84.

Allied Gold (NYSE:AAUC - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $394.11 million during the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. Research analysts predict that Allied Gold Corporation will post 5.1 EPS for the current fiscal year.

Allied Gold Company 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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