Oddo BHF Asset Management Sas Invests $3.40 Million in Allied Gold Corporation $AAUC

Key Points

• Oddo BHF Asset Management initiated a $3.40 million position in Allied Gold, buying 109,400 shares and owning approximately 0.09% of the company. Several other institutional investors also recently established stakes.
• Allied Gold shares opened at $17.76, up 4.3%, but remain below their 50-day and 200-day moving averages. The company reported quarterly revenue of $394.11 million and EPS of $0.39, missing analyst expectations of $0.42.
• Analyst sentiment is mixed, with recent upgrades and downgrades leaving Allied Gold with a consensus “Hold” rating; the stock has two Buy, two Hold and two Sell ratings.

Oddo BHF Asset Management Sas bought a new stake in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 109,400 shares of the company's stock, valued at approximately $3,396,000. Oddo BHF Asset Management Sas owned approximately 0.09% of Allied Gold at the end of the most recent reporting period.

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

Allied Gold Trading Up 4.3%

AAUC stock opened at $17.76 on Friday. Allied Gold Corporation has a 12-month low of $11.40 and a 12-month high of $32.20. The business's 50-day moving average is $23.91 and its 200 day moving average is $28.27. The stock has a market cap of $2.25 billion and a price-to-earnings ratio of -17.25.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). The firm had revenue of $394.11 million for the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. As a group, equities analysts forecast that Allied Gold Corporation will post 4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AAUC has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a research note on Tuesday, July 21st. Zacks Research downgraded 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 Allied Gold to an "outperform" rating in a report on Thursday. National Bank Financial cut Allied Gold to a "sector perform" rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised Allied Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Allied Gold currently has a consensus rating of "Hold".

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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