Weiss Ratings Initiates Coverage on Allied Gold (NYSE:AAUC)

Investment analysts at Weiss Ratings initiated coverage on shares of Allied Gold (NYSE:AAUC) in a note issued to investors on Thursday,Weiss Ratings reports. The firm set a “sell (d-)” rating on the stock.

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

Allied Gold Price Performance

Shares of Allied Gold stock opened at $15.24 on Thursday. Allied Gold has a one year low of $6.37 and a one year high of $20.49. The company has a market cap of $1.88 billion and a price-to-earnings ratio of -23.80. The company has a 50-day moving average price of $16.60.

Hedge Funds Weigh In On Allied Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new position in shares of Allied Gold in the 2nd quarter worth approximately $127,000. Orion Resource Partners LP purchased a new position in shares of Allied Gold in the 2nd quarter worth approximately $103,634,000. Finally, Bank of America Corp DE purchased a new position in shares of Allied Gold in the 2nd quarter worth approximately $13,169,000.

Allied Gold Company Profile

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.