Allied Gold (NYSE:AAUC) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Allied Gold (NYSE:AAUC) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Several other analysts have also weighed in on AAUC. National Bank Financial lowered shares of Allied Gold to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, July 21st. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Allied Gold Price Performance

NYSE AAUC opened at $20.60 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of -38.15 and a beta of 0.15. The business has a 50 day simple moving average of $22.01 and a 200 day simple moving average of $25.09. Allied Gold has a one year low of $14.60 and a one year high of $32.20.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. Equities analysts expect that Allied Gold will post 2.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AAUC. Groupe la Francaise lifted its holdings in shares of Allied Gold by 45.3% in the 2nd quarter. Groupe la Francaise now owns 399,126 shares of the company’s stock worth $9,491,000 after purchasing an additional 124,443 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Allied Gold during the 1st quarter valued at $38,691,000. Capula Management Ltd bought a new stake in Allied Gold during the 1st quarter valued at $31,102,000. DLD Asset Management LP bought a new stake in Allied Gold during the 1st quarter valued at $1,897,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Allied Gold during the first quarter worth $1,801,000.

About Allied Gold

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.