Allied Gold (NYSE:AAUC) Sees Unusually-High Trading Volume – Here’s Why

Allied Gold Corporation (NYSE:AAUC) saw unusually-strong trading volume on Friday . Approximately 263,377 shares changed hands during trading, an increase of 182% from the previous session’s volume of 93,428 shares.The stock last traded at $18.00 and had previously closed at $19.30.

Analysts Set New Price Targets

Several equities analysts recently commented on AAUC shares. Cormark upgraded Allied Gold to a “moderate buy” rating in a research report on Friday, August 8th. Zacks Research upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen cut Allied Gold from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Allied Gold Price Performance

The firm has a fifty day moving average price of $15.94. The stock has a market cap of $2.09 billion and a PE ratio of -28.36.

Institutional Investors Weigh In On Allied Gold

Several institutional investors have recently bought and sold shares of AAUC. Tower Research Capital LLC TRC purchased a new stake in Allied Gold during the 2nd quarter valued at about $127,000. Bank of America Corp DE purchased a new stake in Allied Gold during the 2nd quarter valued at about $13,169,000. Finally, Orion Resource Partners LP purchased a new stake in Allied Gold during the 2nd quarter valued at about $103,634,000.

About Allied Gold

Allied Gold Corporation is a gold producer. It operates a portfolio of producing assets and development projects located principally in Cote d’Ivoire, Mali and Ethiopia. Allied Gold Corporation is based in Canada.