Allied Gold (NYSE:AAUC) Upgraded to “Outperform” at National Bank Financial

Allied Gold (NYSE:AAUC) was upgraded by equities researchers at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

Several other equities analysts have also recently commented on AAUC. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Allied Gold in a research report on Friday, October 16th. Wall Street Zen lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th. Zacks Research cut shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Stifel Nicolaus upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Allied Gold Stock Up 6.5%

AAUC stock opened at $21.73 on Friday. The company has a market cap of $3.05 billion, a PE ratio of 11.60 and a beta of 0.33. The business has a 50-day simple moving average of $21.26 and a 200 day simple moving average of $25.95. Allied Gold has a 52 week low of $14.81 and a 52 week high of $32.20.

Allied Gold (NYSE:AAUC) last posted its quarterly earnings data 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. The business had revenue of $358.07 million during the quarter. Allied Gold had a negative net margin of 1.01% and a positive return on equity of 42.29%. On average, analysts anticipate that Allied Gold will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Groupe la Francaise raised its stake in Allied Gold by 45.3% during the second quarter. Groupe la Francaise now owns 399,126 shares of the company’s stock worth $9,491,000 after acquiring an additional 124,443 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Allied Gold in the first quarter worth about $38,691,000. Capula Management Ltd acquired a new stake in shares of Allied Gold in the 1st quarter valued at approximately $31,102,000. DLD Asset Management LP acquired a new stake in shares of Allied Gold in the 1st quarter valued at approximately $1,897,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Allied Gold in the 1st quarter valued at approximately $1,801,000.

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.