L1 Capital Pty Ltd Acquires Shares of 1,476,184 Allied Gold Corporation $AAUC

L1 Capital Pty Ltd acquired a new stake in Allied Gold Corporation (NYSE:AAUC) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,476,184 shares of the company’s stock, valued at approximately $33,826,000. Allied Gold accounts for 1.8% of L1 Capital Pty Ltd’s holdings, making the stock its 10th largest position.

A number of other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in Allied Gold in the fourth quarter valued at $34,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Allied Gold by 11.9% in the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after acquiring an additional 2,214 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Allied Gold by 31.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,682 shares of the company’s stock valued at $337,000 after acquiring an additional 3,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Allied Gold by 54.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock valued at $280,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Allied Gold by 54.4% in the third 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 in the last quarter.

Analyst Upgrades and Downgrades

AAUC has been the topic of several analyst reports. 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 Friday, April 24th. Finally, Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Allied Gold Stock Down 0.0%

Shares of NYSE:AAUC opened at $25.14 on Friday. The company has a market cap of $3.18 billion and a price-to-earnings ratio of -24.41. The firm’s 50-day simple moving average is $29.00 and its 200-day simple moving average is $28.16. Allied Gold Corporation has a fifty-two week low of $11.40 and a fifty-two week high of $32.20.

Allied Gold (NYSE:AAUC) last issued its 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 firm had revenue of $394.11 million during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. On average, research analysts forecast that Allied Gold Corporation will post 5.45 EPS for the current year.

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.