Helikon Investments Ltd Buys 2,944,721 Shares of Allied Gold Corporation $AAUC

Helikon Investments Ltd increased its stake in shares of Allied Gold Corporation (NYSE:AAUC) by 25.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,736,634 shares of the company’s stock after purchasing an additional 2,944,721 shares during the period. Allied Gold makes up approximately 17.7% of Helikon Investments Ltd’s investment portfolio, making the stock its 2nd largest position. Helikon Investments Ltd owned 11.95% of Allied Gold worth $258,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Resource Partners LP acquired a new position in Allied Gold during the second quarter worth $103,634,000. Vanguard Group Inc. grew its stake in shares of Allied Gold by 1,824.7% in the third quarter. Vanguard Group Inc. now owns 1,177,971 shares of the company’s stock valued at $20,585,000 after buying an additional 1,116,768 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Allied Gold in the 2nd quarter valued at $13,169,000. JPMorgan Chase & Co. lifted its stake in Allied Gold by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after acquiring an additional 75,931 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Allied Gold during the 2nd quarter valued at about $127,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAUC. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Zacks Research upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Finally, Canaccord Genuity Group cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

Allied Gold Stock Performance

Shares of Allied Gold stock opened at $31.35 on Monday. The stock’s 50-day moving average is $27.76. Allied Gold Corporation has a one year low of $8.67 and a one year high of $32.08. The firm has a market capitalization of $3.93 billion and a P/E ratio of -87.08.

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.