Allied Gold Corporation (NYSE:AAUC) Receives Consensus Rating of “Moderate Buy” from Analysts

Allied Gold Corporation (NYSE:AAUC) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company.

A number of research analysts have commented on AAUC shares. Canadian Imperial Bank of Commerce upgraded Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Stifel Nicolaus upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st. Zacks Research upgraded Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Allied Gold to a “buy” rating in a report on Saturday, October 3rd.

Allied Gold Stock Performance

Allied Gold stock opened at $19.63 on Friday. The company’s 50 day simple moving average is $21.96 and its 200-day simple moving average is $25.17. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -36.36 and a beta of 0.15. Allied Gold has a 1 year low of $14.60 and a 1 year high of $32.20.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. Equities analysts expect that Allied Gold will post 2.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AAUC. Squarepoint Ops LLC purchased a new position in Allied Gold in the second quarter valued at $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. Public Employees Retirement System of Ohio acquired a new stake in Allied Gold in the 2nd quarter valued at about $668,000. Finally, Carlson Capital L.P. acquired a new stake in Allied Gold in the 1st quarter valued at about $619,000.

Allied Gold Company Profile

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.