Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Hold” by Brokerages

Shares of Allied Gold Corporation (NYSE:AAUC) have been given an average recommendation of “Hold” by the four ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating on the company.

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, January 27th. Zacks Research raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Stifel Nicolaus cut shares of Allied Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th.

Institutional Investors Weigh In On Allied Gold

A number of institutional investors and hedge funds have recently bought and sold shares of AAUC. Helikon Investments Ltd boosted its holdings in Allied Gold by 25.0% during the 3rd quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock worth $258,038,000 after acquiring an additional 2,944,721 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Allied Gold by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock valued at $32,695,000 after purchasing an additional 75,931 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Allied Gold during the fourth quarter worth about $422,000. Trexquant Investment LP bought a new stake in Allied Gold in the 4th quarter worth about $402,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 5,627 shares in the last quarter.

Allied Gold Stock Up 0.7%

Shares of NYSE:AAUC opened at $31.62 on Friday. Allied Gold has a twelve month low of $8.67 and a twelve month high of $32.08. The stock’s 50 day moving average is $28.62 and its 200-day moving average is $21.33. The firm has a market capitalization of $3.96 billion and a price-to-earnings ratio of -87.82.

About Allied Gold

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.