Allied Gold (NYSE:AAUC) Upgraded to “Strong-Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Allied Gold (NYSE:AAUC) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

AAUC has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, July 21st. National Bank Financial downgraded Allied Gold to a “sector perform” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an “outperform” rating in a report on Thursday. Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Allied Gold has an average rating of “Hold”.

Allied Gold Trading Up 4.3%

Shares of NYSE AAUC opened at $17.76 on Wednesday. Allied Gold has a 12-month low of $11.40 and a 12-month high of $32.20. The firm has a market capitalization of $2.25 billion and a price-to-earnings ratio of -17.25. The firm has a 50 day moving average of $23.91 and a 200 day moving average of $28.27.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $394.11 million during the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. Sell-side analysts predict that Allied Gold will post 4.52 EPS for the current year.

Hedge Funds Weigh In On Allied Gold

A number of hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in Allied Gold in the 1st quarter worth approximately $34,000. Global Retirement Partners LLC purchased a new position in shares of Allied Gold in the fourth quarter worth $34,000. Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold in the second quarter worth $127,000. Virtu Financial LLC bought a new position in shares of Allied Gold during the fourth quarter worth $245,000. Finally, Kovack Advisors Inc. bought a new position in shares of Allied Gold during the fourth quarter worth $255,000.

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.