Groupe la Francaise Purchases 124,443 Shares of Allied Gold Corporation $AAUC

Key Points

• Groupe la Francaise increased its Allied Gold stake by 45.3% in the second quarter, adding 124,443 shares to hold 399,126 shares valued at approximately $9.5 million.
• Institutional ownership strengthened, with Helikon Investments, Bank of America, Vanguard, Boston Partners and others also increasing positions; Orion Resource Partners initiated a new stake worth about $103.6 million.
• Analyst sentiment is mixed but leans positive, resulting in a “Moderate Buy” consensus. Allied Gold recently reported quarterly EPS of $0.44, exceeding the $0.25 analyst estimate, while shares opened at $23.59.

Groupe la Francaise lifted its holdings in Allied Gold Corporation (NYSE:AAUC - Free Report) by 45.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,126 shares of the company's stock after acquiring an additional 124,443 shares during the quarter. Groupe la Francaise owned approximately 0.29% of Allied Gold worth $9,491,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Helikon Investments Ltd raised its position in Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company's stock valued at $377,486,000 after purchasing an additional 1,761,864 shares during the last quarter. Orion Resource Partners LP acquired a new position in Allied Gold in the second quarter worth $103,634,000. Boston Partners grew its holdings in shares of 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 purchasing an additional 307,675 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Allied Gold by 111.1% during the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company's stock worth $78,267,000 after purchasing an additional 1,326,787 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Allied Gold by 106.7% in the fourth 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 in the last quarter.

Analyst Ratings Changes

AAUC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, July 21st. Stifel Nicolaus upgraded shares of Allied Gold from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Allied Gold from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an "outperform" rating in a research note on Thursday, July 30th. Finally, National Bank Financial cut shares of Allied Gold to a "hold" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Allied Gold has a consensus rating of "Moderate Buy".

Allied Gold Stock Down 0.1%

Shares of AAUC opened at $23.59 on Monday. The stock's fifty day simple moving average is $22.15 and its 200-day simple moving average is $26.82. The firm has a market capitalization of $3.29 billion, a PE ratio of -43.69 and a beta of -0.05. Allied Gold Corporation has a 12-month low of $14.40 and a 12-month high of $32.20.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. Analysts anticipate that Allied Gold Corporation will post 3.03 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source