Allied Gold (NYSE:AAUC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allied Gold (NYSE:AAUC) to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus raised shares of Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce raised shares of Allied Gold to an “outperform” rating in a research note on Thursday, July 30th. Zacks Research upgraded shares of Allied Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. National Bank Financial lowered shares of Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Allied Gold has an average rating of “Moderate Buy”.

Allied Gold Stock Down 1.8%

Shares of AAUC stock opened at $19.75 on Friday. The stock has a 50-day simple moving average of $21.89 and a 200 day simple moving average of $25.40. The stock has a market capitalization of $2.75 billion, a P/E ratio of -36.57 and a beta of 0.15. Allied Gold has a fifty-two week low of $14.60 and a fifty-two week high of $32.20.

Allied Gold (NYSE:AAUC) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. On average, sell-side analysts anticipate that Allied Gold will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On Allied Gold

Several institutional investors and hedge funds have recently bought and sold shares of AAUC. State of Wyoming purchased a new stake in shares of Allied Gold in the first quarter worth approximately $34,000. Themes Management Co LLC acquired a new stake in shares of Allied Gold during the first quarter worth approximately $520,000. Squarepoint Ops LLC purchased a new position in Allied Gold during the second quarter valued at approximately $440,000. Carlson Capital L.P. purchased a new position in Allied Gold during the first quarter valued at approximately $619,000. Finally, XY Capital Ltd acquired a new position in Allied Gold in the 2nd quarter valued at approximately $497,000.

Allied Gold Company Profile

Allied Gold Corporation is a gold producer focused on the acquisition, exploration, development and operation of gold assets in Africa. The company’s portfolio includes producing and development-stage properties, with activities centered on expanding production and extending mine lives.

Allied Gold’s principal operating assets include the Bonikro and Agbaou mines in Côte d’Ivoire and the Sadiola Gold Mine in Mali. Through these operations, the company produces gold and conducts exploration and development work intended to identify additional resources and support future growth.

The company serves the international gold market and is publicly listed on the New York Stock Exchange under the symbol AAUC.