Groupe la Francaise Acquires New Shares in Allied Gold Corporation $AAUC

Key Points

• Groupe la Francaise acquired 274,683 shares of Allied Gold in the first quarter, valued at approximately $8.5 million and representing about 0.22% of the company. Several other institutional investors also initiated positions.
• Analyst sentiment was mixed: Canaccord Genuity and Stifel Nicolaus upgraded the stock, while National Bank Financial downgraded it and Weiss Ratings maintained a sell rating. MarketBeat’s overall analyst consensus remains “Hold.”
• Allied Gold shares opened at $18.18, well below their 12-month high of $32.20. The company reported quarterly revenue of $394.1 million and EPS of $0.39, missing the $0.42 consensus estimate.

Groupe la Francaise bought a new stake in Allied Gold Corporation (NYSE:AAUC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 274,683 shares of the company's stock, valued at approximately $8,512,000. Groupe la Francaise owned approximately 0.22% of Allied Gold at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Allied Gold during the 1st quarter valued at about $34,000. Global Retirement Partners LLC bought a new stake in shares of Allied Gold in the 4th quarter valued at approximately $34,000. Tower Research Capital LLC TRC acquired a new position in Allied Gold in the second quarter worth approximately $127,000. Virtu Financial LLC bought a new position in Allied Gold during the fourth quarter valued at approximately $245,000. Finally, Kovack Advisors Inc. bought a new position in Allied Gold during the fourth quarter valued at approximately $255,000.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Allied Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 1st. National Bank Financial downgraded shares of Allied Gold to a "hold" rating in a report on Wednesday. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an "outperform" rating in a report on Thursday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allied Gold in a research note on Tuesday, July 21st. Finally, Stifel Nicolaus upgraded shares of Allied Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Allied Gold currently has an average rating of "Hold".

Allied Gold Stock Up 1.9%

AAUC opened at $18.18 on Friday. The firm has a market capitalization of $2.30 billion and a P/E ratio of -17.65. The stock's 50 day moving average price is $23.72 and its two-hundred day moving average price is $28.20. Allied Gold Corporation has a 12-month low of $11.40 and a 12-month high of $32.20.

Allied Gold (NYSE:AAUC - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.39 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 during the quarter. As a group, analysts anticipate that Allied Gold Corporation will post 4.52 earnings per share for the current year.

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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