Allied Gold (NYSE:AAUC) Downgraded by Canaccord Genuity Group to Hold

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

A number of other equities research analysts have also weighed in on AAUC. Zacks Research lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings assumed coverage on Allied Gold in a report on Thursday, October 30th. They set a “sell (d-)” rating on the stock. Finally, Stifel Nicolaus upgraded shares of Allied Gold to a “strong-buy” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Allied Gold Price Performance

Allied Gold stock opened at $31.65 on Monday. The business’s 50 day moving average is $23.38. Allied Gold has a 12 month low of $8.04 and a 12 month high of $31.82. The stock has a market capitalization of $3.95 billion and a PE ratio of -87.91.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.18). Allied Gold had a negative net margin of 3.58% and a positive return on equity of 24.32%.

Institutional Trading of Allied Gold

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in Allied Gold during the 2nd quarter valued at about $127,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Allied Gold by 54.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after purchasing an additional 5,627 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Allied Gold by 11.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock valued at $363,000 after buying an additional 2,214 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Allied Gold during the 3rd quarter valued at $366,000. Finally, Cibc World Market Inc. increased its position in Allied Gold by 54.4% during the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after buying an additional 7,991 shares in the last quarter.

Trending Headlines about Allied Gold

Here are the key news stories impacting Allied Gold this week:

• Positive Sentiment: The company agreed to be acquired by Zijin Gold International in a definitive, friendly all‑cash arrangement valued at C$5.5 billion — a deal that typically boosts target share prices by converting equity into a cash payout. Allied Gold to be Acquired by Zijin Gold International in Friendly All-Cash Offer Valued at C$5.5 Billion
• Positive Sentiment: Market reaction: AAUC surged to 52‑week highs on the takeover news and saw a substantial spike in volume, indicating broad investor buying on the takeover proposition. Allied, Barrick, American Eagle at 52-Week Highs on News
• Neutral Sentiment: Reported transaction value in USD varies across outlets (roughly US$4.0B) due to currency conversion — the binding figure is the C$5.5B consideration in the agreement. This is mostly a reporting/translation difference, not a change to the deal economics. Allied Gold Agreed to $4 Billion Buyout By Hong Kong’s Zijin Gold
• Negative Sentiment: The transaction remains subject to customary closing conditions (regulatory approvals, shareholder vote and any foreign investment review). Until closing there is execution and regulatory risk that could reverse some of the share gains. China’s Zijin Gold to acquire Canadian miner Allied Gold for $5.5-billion in cash

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.