Allied Gold (NYSE:AAUC) Stock Bumped Up to Outperform by National Bank Financial

National Bank Financial upgraded shares of Allied Gold (NYSE:AAUC) from a sector perform rating to an outperform rating in a report published on Friday morning, Marketbeat.com reports.

A number of other research firms have also issued reports on AAUC. Wall Street Zen lowered Allied Gold from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gold in a research note on Monday, October 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Allied Gold in a research note on Friday, October 16th. Stifel Nicolaus raised Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Zacks Research cut Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Allied Gold Stock Performance

Allied Gold stock traded up $1.29 during mid-day trading on Friday, reaching $23.08. The company’s stock had a trading volume of 667,490 shares, compared to its average volume of 411,558. Allied Gold has a 12-month low of $14.86 and a 12-month high of $32.20. The company has a market capitalization of $3.24 billion, a P/E ratio of -121.46 and a beta of 0.33. The firm’s fifty day moving average price is $21.24 and its two-hundred day moving average price is $25.92.

Allied Gold (NYSE:AAUC) last issued its earnings results on Wednesday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.18. The business had revenue of $358.07 million for the quarter. Allied Gold had a negative net margin of 4.19% and a positive return on equity of 41.36%. On average, research analysts predict that Allied Gold will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in Allied Gold by 111.1% during the first quarter. Bank of America Corp DE now owns 2,521,475 shares of the company’s stock worth $78,267,000 after buying an additional 1,326,787 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Allied Gold during the first quarter worth about $51,353,000. OMERS ADMINISTRATION Corp bought a new position in shares of Allied Gold in the first quarter worth approximately $38,691,000. Capula Management Ltd bought a new position in shares of Allied Gold in the first quarter worth approximately $31,102,000. Finally, PSquared Asset Management AG bought a new position in shares of Allied Gold in the first quarter worth approximately $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.