Zacks Research Upgrades Allied Gold (NYSE:AAUC) to “Hold”

Allied Gold (NYSE:AAUC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, July 21st. National Bank Financial downgraded Allied Gold to a “hold” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce raised Allied Gold to an “outperform” rating in a report on Thursday, July 30th. Stifel Nicolaus raised Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Allied Gold Stock Up 10.9%

NYSE AAUC opened at $23.27 on Tuesday. Allied Gold has a 52 week low of $13.00 and a 52 week high of $32.20. The firm has a 50 day moving average of $22.49 and a two-hundred day moving average of $27.49. The stock has a market capitalization of $3.24 billion, a PE ratio of -43.10 and a beta of -0.22.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Allied Gold will post 3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Helikon Investments Ltd raised its stake in Allied Gold by 12.0% during the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after acquiring an additional 1,761,864 shares in the last quarter. Orion Resource Partners LP purchased a new stake in Allied Gold in the second quarter valued at $103,634,000. UBS Group AG boosted its stake in Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after acquiring an additional 3,942,340 shares in the last quarter. Boston Partners boosted its stake in Allied Gold by 8.4% in the fourth quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after acquiring an additional 307,675 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Allied Gold by 111.1% during the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock worth $78,267,000 after purchasing an additional 1,326,787 shares during the last quarter.

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.