Allied Gold (NYSE:AAUC) Downgraded to “Hold” Rating by Zacks Research

Allied Gold (NYSE:AAUC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

AAUC has been the topic of several other reports. Stifel Canada raised Allied Gold to a “strong-buy” rating in a report on Thursday, November 6th. Weiss Ratings began coverage on Allied Gold in a report on Thursday, October 30th. They set a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Allied Gold Trading Down 2.0%

Shares of NYSE:AAUC opened at $24.67 on Tuesday. The company has a market capitalization of $3.08 billion and a price-to-earnings ratio of -68.51. The stock’s fifty day moving average is $20.25. Allied Gold has a fifty-two week low of $6.88 and a fifty-two week high of $25.20.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Allied Gold had a negative net margin of 3.58% and a positive return on equity of 24.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in shares of Allied Gold during the 3rd quarter valued at approximately $366,000. Public Employees Retirement System of Ohio boosted its stake in 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 worth $363,000 after buying an additional 2,214 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Allied Gold during the third quarter valued at $936,000. Amundi purchased a new stake in shares of Allied Gold in the third quarter valued at $451,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 last quarter.

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.