Allied Gold Corporation (NYSE:AAUC) Stock Rated “Hold” by Sell-Side Brokerages

Allied Gold Corporation (NYSE:AAUC) has received an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research firms have weighed in on AAUC. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. National Bank Financial downgraded shares of Allied Gold to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Monday, October 19th. Finally, Wall Street Zen downgraded shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Sunday, October 11th.

Allied Gold Stock Up 7.9%

Allied Gold stock opened at $20.45 on Thursday. Allied Gold has a 52 week low of $14.81 and a 52 week high of $32.20. The firm’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $25.98. The firm has a market capitalization of $2.87 billion, a PE ratio of 11.28 and a beta of 0.33.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.18. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. On average, research analysts expect that Allied Gold will post 1.91 EPS for the current fiscal year.

Institutional Trading of Allied Gold

Hedge funds have recently modified their holdings of the company. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Allied Gold in the 1st quarter valued at about $51,353,000. Bank of America Corp DE grew its stake in Allied Gold by 111.1% in the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock valued at $78,267,000 after acquiring an additional 1,326,787 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Allied Gold in the 1st quarter valued at about $38,691,000. Capula Management Ltd bought a new stake in shares of Allied Gold in the first quarter worth $31,102,000. Finally, PSquared Asset Management AG bought a new position in Allied Gold in the first quarter valued at approximately $22,901,000.

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.