Allied Gold (NYSE:AAUC) Lowered to “Hold” Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Allied Gold (NYSE:AAUC) from a buy rating to a hold rating in a report issued on Tuesday, Marketbeat Ratings reports.

A number of other equities analysts have also issued reports on AAUC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. Zacks Research upgraded Allied Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allied Gold has a consensus rating of “Hold”.

Allied Gold Price Performance

Shares of NYSE:AAUC opened at $31.51 on Tuesday. The firm has a market capitalization of $3.93 billion and a P/E ratio of -87.53. The firm has a 50 day moving average price of $26.28. Allied Gold has a 52-week low of $8.67 and a 52-week high of $32.08.

Institutional Trading of Allied Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in AAUC. Bank of America Corp DE acquired a new position in shares of Allied Gold in the 2nd quarter worth approximately $13,169,000. Orion Resource Partners LP acquired a new stake in Allied Gold during the second quarter valued at approximately $103,634,000. Tower Research Capital LLC TRC bought a new stake in Allied Gold during the second quarter worth approximately $127,000. Cibc World Market Inc. grew its position in Allied Gold by 54.4% in the third quarter. Cibc World Market Inc. now owns 22,690 shares of the company’s stock worth $396,000 after buying an additional 7,991 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Allied Gold by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after buying an additional 75,931 shares during the last quarter.

About Allied Gold

Allied Gold (NYSE: AAUC) is a publicly listed company that operates in the gold mining sector. The firm’s business centers on identifying, acquiring and advancing gold-bearing properties with the objective of creating and operating economically viable mining assets. Allied Gold’s activities are typical of junior and mid-tier gold companies, encompassing exploration, resource definition, development planning and the eventual production and sale of gold.

Core business activities for Allied Gold include mineral exploration programs to discover and delineate gold resources, feasibility and engineering studies to assess project economics, permitting and mine development work where projects progress to the construction phase, and operational oversight for producing assets.