Public Employees Retirement System of Ohio Makes New Investment in Allied Gold Corporation $AAUC

Public Employees Retirement System of Ohio purchased a new stake in shares of Allied Gold Corporation (NYSE:AAUC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,124 shares of the company’s stock, valued at approximately $668,000.

Several other large investors have also made changes to their positions in the business. Bank of America Corp DE purchased a new stake in shares of Allied Gold during the second quarter worth about $13,169,000. Orion Resource Partners LP purchased a new position in Allied Gold in the 2nd quarter worth approximately $103,634,000. Tower Research Capital LLC TRC bought a new position in Allied Gold in the 2nd quarter worth approximately $127,000. Vanguard Group Inc. boosted its stake in Allied Gold by 1,824.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company’s stock worth $20,585,000 after purchasing an additional 1,116,768 shares during the period. Finally, Swiss National Bank grew its holdings in Allied Gold by 16.4% during 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 in the last quarter.

Analyst Ratings Changes

AAUC has been the topic of several research analyst reports. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce upgraded shares of Allied Gold to an “outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, July 21st. Finally, National Bank Financial downgraded Allied Gold to a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Allied Gold Trading Up 0.1%

AAUC opened at $22.93 on Thursday. The firm has a market cap of $3.19 billion, a P/E ratio of -42.46 and a beta of -0.05. Allied Gold Corporation has a 12 month low of $14.60 and a 12 month high of $32.20. The stock has a 50-day moving average of $22.12 and a 200 day moving average of $26.65.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping 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%. On average, research analysts forecast that Allied Gold Corporation will post 3.03 earnings per share for the current fiscal year.

Allied Gold 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.