Allied Gold Corporation $AAUC Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Allied Gold Corporation (NYSE:AAUC) by 106.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,435,409 shares of the company’s stock after acquiring an additional 1,257,438 shares during the quarter. Vanguard Group Inc. owned approximately 1.95% of Allied Gold worth $55,805,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. U S Global Investors Inc. acquired a new stake in Allied Gold during the fourth quarter worth approximately $5,565,000. JPMorgan Chase & Co. boosted its position in Allied Gold by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after acquiring an additional 75,931 shares during the last quarter. Harvest Investment Services LLC acquired a new stake in Allied Gold during the third quarter worth approximately $497,000. Susquehanna International Group LLP acquired a new stake in Allied Gold during the third quarter worth approximately $366,000. Finally, Public Employees Retirement System of Ohio boosted its position in Allied Gold by 11.9% during the third quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock worth $363,000 after acquiring an additional 2,214 shares during the last quarter.

Allied Gold Stock Down 3.4%

Shares of AAUC opened at $28.33 on Friday. The firm has a market cap of $3.57 billion and a PE ratio of -27.50. The company’s fifty day moving average is $30.95 and its two-hundred day moving average is $26.75. Allied Gold Corporation has a fifty-two week low of $11.33 and a fifty-two week high of $32.20.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results 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 during the quarter. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.25%. As a group, equities research analysts anticipate that Allied Gold Corporation will post 6.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Finally, Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Allied Gold currently has a consensus rating of “Reduce”.

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.