Allied Gold (NYSE:AAUC) Stock Rating Upgraded by Zacks Research

Allied Gold (NYSE:AAUC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on AAUC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Friday, April 24th. Canaccord Genuity Group cut Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus cut Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Allied Gold Price Performance

Shares of Allied Gold stock opened at $29.80 on Monday. The business has a 50-day moving average of $31.10 and a 200 day moving average of $26.58. The stock has a market capitalization of $3.75 billion and a price-to-earnings ratio of -57.30. Allied Gold has a 12 month low of $11.20 and a 12 month high of $32.20.

Allied Gold (NYSE:AAUC) 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%. Equities research analysts anticipate that Allied Gold will post 6.18 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in Allied Gold during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC purchased a new stake in Allied Gold during the second quarter worth approximately $127,000. Virtu Financial LLC purchased a new stake in Allied Gold during the fourth quarter worth approximately $245,000. Kovack Advisors Inc. purchased a new stake in Allied Gold during the fourth quarter worth approximately $255,000. Finally, Investment Management Corp of Ontario purchased a new stake in Allied Gold during the fourth quarter worth approximately $268,000.

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.