Allied Gold (NYSE:AAUC) Issues Earnings Results

Allied Gold (NYSE:AAUC) announced its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.18, Zacks reports. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%.

Allied Gold Stock Up 7.9%

Shares of NYSE:AAUC traded up $1.50 during trading on Wednesday, reaching $20.45. The stock had a trading volume of 382,768 shares, compared to its average volume of 711,961. Allied Gold has a fifty-two week low of $14.81 and a fifty-two week high of $32.20. The stock has a market cap of $2.85 billion, a P/E ratio of -37.88 and a beta of 0.34. The business has a fifty day moving average price of $21.36 and a 200-day moving average price of $26.01.

Analyst Upgrades and Downgrades

AAUC has been the subject of a number of research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Allied Gold in a report on Friday, October 16th. Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. National Bank Financial lowered Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th. Finally, Wall Street Zen cut shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Allied Gold

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.