1,252,200 Shares in Allied Gold Corporation $AAUC Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in shares of Allied Gold Corporation (NYSE:AAUC) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,252,200 shares of the company’s stock, valued at approximately $38,691,000.

A number of other large investors also recently added to or reduced their stakes in AAUC. Helikon Investments Ltd lifted its holdings in shares of Allied Gold by 12.0% in the fourth quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after buying an additional 1,761,864 shares in the last quarter. Orion Resource Partners LP bought a new position in shares of Allied Gold during the second quarter worth $103,634,000. UBS Group AG boosted its position in shares of Allied Gold by 3,921.0% during the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock worth $92,501,000 after acquiring an additional 3,942,340 shares during the last quarter. Boston Partners grew its stake in Allied Gold by 8.4% during 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, Vanguard Group Inc. grew its stake in Allied Gold by 106.7% during the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after acquiring an additional 1,257,438 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday. Canaccord Genuity Group upgraded Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Allied Gold Stock Performance

Shares of NYSE AAUC opened at $20.82 on Friday. The business’s 50 day moving average price is $24.54 and its 200-day moving average price is $28.40. Allied Gold Corporation has a fifty-two week low of $11.40 and a fifty-two week high of $32.20. The company has a market cap of $2.63 billion and a price-to-earnings ratio of -20.21.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $394.11 million for the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.56%. Sell-side analysts predict that Allied Gold Corporation will post 4.52 earnings per share for the current year.

Allied Gold 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.