Allied Gold (NYSE:AAUC) Stock Rating Lowered by Zacks Research

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

AAUC has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, January 27th. Stifel Nicolaus cut 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. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Allied Gold Stock Up 0.5%

AAUC opened at $31.63 on Monday. Allied Gold has a twelve month low of $8.67 and a twelve month high of $32.08. The company has a market cap of $3.96 billion and a PE ratio of -87.84. The company has a 50-day moving average price of $29.63 and a 200 day moving average price of $22.18.

Institutional Investors Weigh In On Allied Gold

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC purchased a new stake in Allied Gold in the 2nd quarter valued at $127,000. Virtu Financial LLC acquired a new stake in shares of Allied Gold in the 4th quarter worth $245,000. Kovack Advisors Inc. purchased a new position in shares of Allied Gold during the 4th quarter worth $255,000. Finally, Investment Management Corp of Ontario acquired a new position in shares of Allied Gold during the 4th quarter valued at about $268,000.

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.