Allied Gold Corporation (NYSE:AAUC) Given Average Recommendation of “Moderate Buy” by Analysts

Allied Gold Corporation (NYSE:AAUC) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company.

A number of equities analysts have commented on the stock. National Bank Financial cut shares of Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus upgraded shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, July 21st.

Allied Gold Stock Up 2.8%

AAUC opened at $23.56 on Friday. Allied Gold has a 12-month low of $13.05 and a 12-month high of $32.20. The business has a 50 day moving average of $22.42 and a 200-day moving average of $27.40. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -43.63 and a beta of -0.22.

Allied Gold (NYSE:AAUC) last posted its earnings results on Wednesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Allied Gold had a positive return on equity of 41.36% and a negative net margin of 4.19%. As a group, analysts expect that Allied Gold will post 3.03 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

Institutional investors have recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Allied Gold during the first quarter worth approximately $34,000. Global Retirement Partners LLC acquired a new stake in Allied Gold during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC bought a new stake in Allied Gold in the 2nd quarter valued at $127,000. Virtu Financial LLC bought a new stake in Allied Gold in the 4th quarter valued at $245,000. Finally, Kovack Advisors Inc. acquired a new position in Allied Gold in the 4th quarter valued at $255,000.

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.