Allied Gold (NYSE:AAUC) Rating Lowered to “Hold” at Stifel Nicolaus

Allied Gold (NYSE:AAUC) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Tuesday, MarketBeat reports.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, January 27th. Zacks Research upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Allied Gold Stock Performance

NYSE:AAUC opened at $31.65 on Tuesday. The firm’s 50-day simple moving average is $26.07. The company has a market cap of $3.95 billion and a price-to-earnings ratio of -87.91. Allied Gold has a twelve month low of $8.67 and a twelve month high of $32.08.

Institutional Trading of Allied Gold

A number of hedge funds have recently made changes to their positions in AAUC. Orion Resource Partners LP acquired a new stake in Allied Gold in the 2nd quarter valued at approximately $103,634,000. UBS Group AG grew its stake in shares of Allied Gold by 3,921.0% in 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. Helikon Investments Ltd increased its position in Allied Gold by 25.0% during the third quarter. Helikon Investments Ltd now owns 14,736,634 shares of the company’s stock worth $258,038,000 after acquiring an additional 2,944,721 shares during the period. Vanguard Group Inc. raised its stake in Allied Gold by 106.7% during the 4th quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock valued at $55,805,000 after purchasing an additional 1,257,438 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Allied Gold during the 2nd quarter valued at $13,169,000.

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.