Allied Gold Corporation (NYSE:AAUC) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company.

AAUC has been the subject of several analyst reports. Stifel Nicolaus upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Allied Gold in a research report on Friday, October 16th. National Bank Financial cut Allied Gold to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded Allied Gold from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research report on Monday, October 19th.

Allied Gold Stock Down 0.6%

Allied Gold stock opened at $20.19 on Thursday. The firm has a 50-day moving average price of $21.69 and a two-hundred day moving average price of $26.15. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -37.39 and a beta of 0.15. Allied Gold has a 52-week low of $14.60 and a 52-week high of $32.20.

Allied Gold (NYSE:AAUC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.44 EPS for the quarter, beating 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%. Research analysts expect that Allied Gold will post 2.29 earnings per share for the current year.

Institutional Investors Weigh In On Allied Gold

A number of hedge funds and other institutional investors have recently modified their holdings of AAUC. Bank of America Corp DE lifted its holdings in Allied Gold by 111.1% in the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock worth $78,267,000 after purchasing an additional 1,326,787 shares during the period. Absolute Gestao de Investimentos Ltda. acquired a new position in Allied Gold during the 1st quarter valued at about $51,353,000. OMERS ADMINISTRATION Corp acquired a new position in Allied Gold during the 1st quarter valued at about $38,691,000. Capula Management Ltd acquired a new position in Allied Gold during the 1st quarter valued at about $31,102,000. Finally, PSquared Asset Management AG bought a new stake in shares of Allied Gold during the 1st quarter worth about $22,901,000.

Allied Gold Company Profile

Allied Gold Corporation is a Canada-based gold producer and mine developer focused on operations in West Africa. The company explores for, develops and produces gold, with activities spanning open-pit mining, ore processing and the production of gold doré.

Allied Gold’s principal assets include the Sadiola gold mine in Mali and the Bonikro and Agbaou gold mines in Côte d’Ivoire. The company also manages exploration and development programs intended to extend mine lives, expand resources and improve production from its regional asset base.

Allied Gold became a publicly traded company in 2023.