Allied Gold (NYSE:AAUC) Issues Quarterly Earnings Results

Allied Gold (NYSE:AAUC) issued its quarterly earnings results on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03), Zacks reports. Allied Gold had a negative net margin of 9.08% and a positive return on equity of 36.25%. The business had revenue of $394.11 million during the quarter.

Allied Gold Stock Performance

Shares of AAUC stock traded down $1.00 during midday trading on Friday, hitting $28.33. 364,192 shares of the company were exchanged, compared to its average volume of 940,557. The firm has a market capitalization of $3.57 billion and a P/E ratio of -27.50. The firm’s 50 day moving average price is $30.95 and its two-hundred day moving average price is $26.75. Allied Gold has a 52 week low of $11.33 and a 52 week high of $32.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Friday, April 24th. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allied Gold presently has an average rating of “Reduce”.

Institutional Trading of Allied Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in Allied Gold in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC bought a new stake in shares of Allied Gold during the 2nd quarter worth approximately $127,000. Virtu Financial LLC bought a new stake in shares of Allied Gold during the 4th quarter worth approximately $245,000. Kovack Advisors Inc. bought a new stake in shares of Allied Gold during the 4th quarter worth approximately $255,000. Finally, Investment Management Corp of Ontario bought a new stake in shares of Allied Gold during the 4th quarter worth approximately $268,000.

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.