Amundi Has $17.20 Million Stock Position in Allied Gold Corporation $AAUC

Key Points

• Amundi reduced its Allied Gold stake by 21.5% in the first quarter, selling 151,425 shares and retaining 554,128 shares valued at approximately $17.2 million, or 0.44% of the company.
• Analyst views are mixed: Stifel Nicolaus upgraded the stock to “strong buy,” while Zacks Research downgraded it to “strong sell.” MarketBeat reports a consensus “Hold” rating.
• Allied Gold opened at $18.74, well below its 52-week high of $32.20. Its latest quarterly EPS of $0.39 missed estimates of $0.42, despite quarterly revenue of $394.11 million.

Amundi lessened its stake in Allied Gold Corporation (NYSE:AAUC - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 554,128 shares of the company's stock after selling 151,425 shares during the quarter. Amundi owned 0.44% of Allied Gold worth $17,200,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Allied Gold in the 1st quarter valued at about $34,000. Global Retirement Partners LLC bought a new position in shares of Allied Gold during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC bought a new position in shares of Allied Gold during the 2nd quarter worth approximately $127,000. Virtu Financial LLC acquired a new stake in shares of Allied Gold in the fourth quarter valued at approximately $245,000. Finally, Kovack Advisors Inc. bought a new stake in shares of Allied Gold in the fourth quarter worth $255,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AAUC shares. Zacks Research downgraded shares of Allied Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an "outperform" rating in a research report on Thursday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a research note on Tuesday, July 21st. National Bank Financial cut Allied Gold to a "hold" rating in a report on Wednesday, July 29th. Finally, Stifel Nicolaus raised Allied Gold from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold".

Allied Gold Stock Performance

Allied Gold stock opened at $18.74 on Wednesday. Allied Gold Corporation has a 52 week low of $11.40 and a 52 week high of $32.20. The stock has a market capitalization of $2.37 billion, a P/E ratio of -18.20 and a beta of -0.20. The stock has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $28.10.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%.The business had revenue of $394.11 million for the quarter. Research analysts forecast that Allied Gold Corporation will post 3.65 earnings per share for the current year.

About Allied Gold

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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