Swiss National Bank Increases Stock Position in Allied Gold Corporation $AAUC

Key Points

• Swiss National Bank increased its Allied Gold stake by 32.6% in the first quarter, purchasing 51,900 additional shares to hold 211,066 shares worth approximately $6.5 million.
• Other institutional investors also expanded their exposure, including Vanguard, which increased its position by 1,824.7%, while Orion Resource Partners acquired a new stake valued at roughly $103.6 million.
• Analyst sentiment remains cautious: Allied Gold has an average “Reduce” rating, with two Sell ratings, one Hold, and one Buy. The stock recently traded at $20.87, and its latest quarterly earnings of $0.39 per share missed expectations of $0.42.

Swiss National Bank lifted its position in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) by 32.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,066 shares of the company's stock after buying an additional 51,900 shares during the period. Swiss National Bank owned approximately 0.17% of Allied Gold worth $6,533,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE acquired a new position in Allied Gold in the second quarter valued at $13,169,000. Orion Resource Partners LP acquired a new stake in Allied Gold during the second quarter worth about $103,634,000. Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold in the 2nd quarter worth about $127,000. Vanguard Group Inc. raised its holdings in shares of Allied Gold by 1,824.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company's stock worth $20,585,000 after purchasing an additional 1,116,768 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Allied Gold by 36.4% in the 3rd quarter. Legal & General Group Plc now owns 532,731 shares of the company's stock valued at $9,325,000 after purchasing an additional 142,251 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAUC shares. Zacks Research cut Allied Gold from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, July 21st. Finally, Canaccord Genuity Group raised shares of Allied Gold from a "hold" rating to a "buy" rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce".

Allied Gold Price Performance

NYSE:AAUC opened at $20.87 on Wednesday. The business's 50-day moving average is $24.27 and its two-hundred day moving average is $28.38. Allied Gold Corporation has a 12 month low of $11.40 and a 12 month high of $32.20. The firm has a market capitalization of $2.64 billion and a PE ratio of -20.26.

Allied Gold (NYSE:AAUC - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.39 earnings per share 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 company had revenue of $394.11 million during the quarter. Equities analysts anticipate that Allied Gold Corporation will post 4.52 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.

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