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

Allied Gold (NYSE:AAUC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

Several other research firms also recently weighed in on AAUC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Allied Gold in a research note on Friday, October 16th. National Bank Financial cut shares of Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. 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, Wall Street Zen cut shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Allied Gold Trading Down 2.2%

Shares of NYSE AAUC opened at $18.92 on Monday. Allied Gold has a twelve month low of $14.60 and a twelve month high of $32.20. The stock has a fifty day simple moving average of $21.36 and a 200-day simple moving average of $26.01. The stock has a market capitalization of $2.64 billion, a PE ratio of -35.04 and a beta of 0.34.

Allied Gold (NYSE:AAUC) last posted its earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share (EPS) 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, equities analysts predict that Allied Gold will post 2.07 earnings per share for the current year.

Institutional Trading of Allied Gold

Several hedge funds have recently modified their holdings of AAUC. Vontobel Holding Ltd. purchased a new position in Allied Gold in the third quarter valued at $1,047,000. Squarepoint Ops LLC acquired a new position in Allied Gold during the 2nd quarter worth $440,000. Groupe la Francaise increased its holdings in Allied Gold by 45.3% during 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 during the period. XY Capital Ltd purchased a new stake in Allied Gold during the 2nd quarter worth about $497,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Allied Gold in the 2nd quarter valued at about $668,000.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.