Allied Gold Corporation (NYSE:AAUC) Receives Average Rating of “Hold” from Analysts

Allied Gold Corporation (NYSE:AAUC) has earned an average rating of “Hold” from the four ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a strong buy recommendation on the company.

AAUC has been the subject of a number of research reports. Canaccord Genuity Group cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Stifel Nicolaus lowered Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Zacks Research upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AAUC. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold during the 4th quarter worth about $34,000. Public Employees Retirement System of Ohio lifted its stake in shares of Allied Gold by 11.9% during the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after buying an additional 2,214 shares during the period. Pictet Asset Management Holding SA boosted its position in Allied Gold by 31.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock worth $337,000 after acquiring an additional 3,484 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after acquiring an additional 5,627 shares during the period. Finally, Cibc World Market Inc. raised its holdings in 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 acquiring an additional 7,991 shares during the last quarter.

Allied Gold Stock Down 0.1%

NYSE:AAUC opened at $31.28 on Friday. Allied Gold has a 52-week low of $8.67 and a 52-week high of $32.08. The stock’s fifty day moving average price is $27.92. The firm has a market cap of $3.92 billion and a P/E ratio of -86.90.

Allied Gold Company 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.