DLD Asset Management LP Makes New $1.90 Million Investment in Allied Gold Corporation $AAUC

Key Points

• DLD Asset Management initiated a new position in Allied Gold, buying 61,100 shares worth about $1.90 million in the first quarter.
• Other institutions also made major moves in AAUC, including Helikon Investments, Orion Resource Partners, UBS Group, Boston Partners, and Vanguard, indicating continued hedge fund interest in the stock.
• Analyst sentiment remains cautious: Canaccord upgraded the stock to buy, but other firms issued sell ratings, leaving Allied Gold with a consensus rating of “Reduce.”

DLD Asset Management LP bought a new stake in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 61,100 shares of the company's stock, valued at approximately $1,897,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AAUC. Helikon Investments Ltd lifted its position in shares of Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company's stock worth $377,486,000 after buying an additional 1,761,864 shares during the last quarter. Orion Resource Partners LP bought a new stake in shares of Allied Gold during the 2nd quarter valued at about $103,634,000. UBS Group AG grew its position in shares of Allied Gold by 3,921.0% during the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company's stock valued at $92,501,000 after buying an additional 3,942,340 shares during the last quarter. Boston Partners raised its stake in Allied Gold by 8.4% during the fourth quarter. Boston Partners now owns 3,967,412 shares of the company's stock worth $90,774,000 after acquiring an additional 307,675 shares during the period. Finally, Vanguard Group Inc. raised its stake in Allied Gold by 106.7% during the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company's stock worth $55,805,000 after acquiring an additional 1,257,438 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on AAUC shares. Canaccord Genuity Group upgraded Allied Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Allied Gold in a research report on Friday, April 24th. Finally, Zacks Research downgraded Allied Gold from a "hold" rating to a "strong sell" rating in a report on Monday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Allied Gold has a consensus rating of "Reduce".

Allied Gold Trading Up 2.8%

NYSE AAUC opened at $21.62 on Thursday. The company has a 50-day moving average price of $24.85 and a two-hundred day moving average price of $28.47. Allied Gold Corporation has a 52 week low of $11.40 and a 52 week high of $32.20. The stock has a market cap of $2.74 billion and a price-to-earnings ratio of -21.00.

Allied Gold (NYSE:AAUC - Get Free Report) last issued 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). 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. As a group, equities research analysts expect that Allied Gold Corporation will post 4.52 earnings per share for the current fiscal 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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