U S Global Investors Inc. Invests $5.57 Million in Allied Gold Corporation $AAUC

Key Points

• U S Global Investors Inc. initiated a new position in Allied Gold (NYSE:AAUC), purchasing 242,753 shares worth about $5.57 million, equal to roughly 0.19% of the company at quarter-end.
• Allied Gold reported quarterly EPS of $0.56 versus the $0.64 consensus (revenue $427.8M); the stock has a market cap of $4.0 billion and a negative trailing PE of -61.16.
• Several firms have downgraded the stock recently (including Stifel, Zacks, and Canaccord), and the consensus analyst view from MarketBeat is an average rating of "Reduce."

U S Global Investors Inc. purchased a new position in shares of Allied Gold Corporation (NYSE:AAUC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 242,753 shares of the company's stock, valued at approximately $5,565,000. U S Global Investors Inc. owned 0.19% of Allied Gold at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAUC. Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold during the 2nd quarter worth $127,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Allied Gold by 54.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company's stock worth $280,000 after purchasing an additional 5,627 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Allied Gold by 11.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company's stock worth $363,000 after purchasing an additional 2,214 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Allied Gold during the 3rd quarter worth $366,000. Finally, Cibc World Market Inc. grew its holdings in shares of Allied Gold by 54.4% during the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company's stock worth $396,000 after purchasing an additional 7,991 shares during the period.

Allied Gold Stock Performance

Shares of AAUC opened at $31.81 on Friday. The stock has a 50-day simple moving average of $31.39 and a 200-day simple moving average of $25.58. The stock has a market capitalization of $4.00 billion and a PE ratio of -61.16. Allied Gold Corporation has a 1 year low of $11.20 and a 1 year high of $32.20.

Allied Gold (NYSE:AAUC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). The company had revenue of $427.82 million during the quarter. Allied Gold had a negative net margin of 3.89% and a positive return on equity of 36.52%. Analysts predict that Allied Gold Corporation will post 6.18 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAUC. Stifel Nicolaus cut Allied Gold from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Zacks Research cut Allied Gold from a "hold" rating to a "strong sell" rating in a report on Friday, April 10th. Canaccord Genuity Group cut Allied Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, January 26th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Allied Gold in a report on Tuesday, January 27th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce".

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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