Mudita Advisors LLP Grows Stock Holdings in Allied Gold Corporation $AAUC

Mudita Advisors LLP boosted its stake in Allied Gold Corporation (NYSE:AAUC) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,234 shares of the company’s stock after acquiring an additional 66,900 shares during the period. Allied Gold accounts for about 1.5% of Mudita Advisors LLP’s holdings, making the stock its 15th biggest position. Mudita Advisors LLP owned approximately 0.24% of Allied Gold worth $5,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Allied Gold during the 2nd quarter worth approximately $127,000. Cibc World Market Inc. lifted its holdings 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 buying an additional 7,991 shares during the period. Swiss National Bank lifted its holdings in shares of Allied Gold by 16.4% in the 3rd quarter. Swiss National Bank now owns 159,166 shares of the company’s stock valued at $2,783,000 after buying an additional 22,400 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Allied Gold in the third quarter valued at approximately $2,812,000. Finally, TD Asset Management Inc grew its holdings in Allied Gold by 15.6% during the third quarter. TD Asset Management Inc now owns 215,111 shares of the company’s stock worth $3,760,000 after acquiring an additional 29,096 shares during the period.

Allied Gold Price Performance

AAUC traded down $0.14 during trading on Friday, hitting $31.28. The company’s stock had a trading volume of 25,779 shares, compared to its average volume of 919,483. Allied Gold Corporation has a twelve month low of $8.67 and a twelve month high of $32.08. The stock has a market cap of $3.92 billion and a PE ratio of -86.93. The firm’s 50 day moving average price is $29.98 and its 200-day moving average price is $22.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AAUC shares. Zacks Research cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Canaccord Genuity Group downgraded shares of 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 research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

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.