Credit Industriel ET Commercial Takes Position in Allied Gold Corporation $AAUC

Credit Industriel ET Commercial bought a new position in shares of Allied Gold Corporation (NYSE:AAUC) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 207,217 shares of the company’s stock, valued at approximately $6,412,000. Allied Gold accounts for about 0.5% of Credit Industriel ET Commercial’s portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAUC. Orion Resource Partners LP acquired a new stake in shares of Allied Gold in the second quarter valued at about $103,634,000. UBS Group AG increased its position in shares of Allied Gold by 3,921.0% during the 4th quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after purchasing an additional 3,942,340 shares during the last quarter. Helikon Investments Ltd boosted its holdings in shares of Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock valued at $377,486,000 after buying an additional 1,761,864 shares during the last quarter. L1 Capital Pty Ltd acquired a new position in Allied Gold during the fourth quarter worth $33,826,000. Finally, Vanguard Group Inc. raised its position in Allied Gold by 106.7% during the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock worth $55,805,000 after acquiring an additional 1,257,438 shares in the last quarter.

Allied Gold Price Performance

Shares of AAUC opened at $24.09 on Tuesday. The firm has a market capitalization of $3.05 billion and a PE ratio of -23.38. The company’s 50-day moving average is $26.92 and its 200-day moving average is $28.60. Allied Gold Corporation has a fifty-two week low of $11.40 and a fifty-two week high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly 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 negative net margin of 9.08% and a positive return on equity of 36.56%. The company had revenue of $394.11 million during the quarter. Analysts predict that Allied Gold Corporation will post 5.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Allied Gold presently 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.