Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Reduce” by Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have earned an average rating of “Reduce” from the four research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company.

AAUC has been the topic of several research analyst reports. Zacks Research lowered Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, April 10th. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Stifel Nicolaus lowered Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th.

Hedge Funds Weigh In On Allied Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in Allied Gold during the 4th quarter worth approximately $34,000. Public Employees Retirement System of Ohio raised its position in shares of Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after purchasing an additional 2,214 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Allied Gold by 31.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock valued at $337,000 after purchasing an additional 3,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock valued at $280,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Cibc World Market Inc. raised its position in shares of Allied Gold by 54.4% in the 3rd quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock valued at $396,000 after purchasing an additional 7,991 shares in the last quarter.

Allied Gold Price Performance

NYSE AAUC opened at $31.67 on Friday. The firm has a market capitalization of $3.99 billion and a P/E ratio of -60.90. Allied Gold has a 1-year low of $11.20 and a 1-year high of $32.08. The business’s 50-day simple moving average is $31.33 and its 200-day simple moving average is $25.00.

Allied Gold (NYSE:AAUC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). The firm 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%.

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.