Allied Gold Corporation (NYSE:AAUC) Given Average Rating of “Hold” by Analysts

Allied Gold Corporation (NYSE:AAUC) has earned an average recommendation of “Hold” from the four ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company.

Several analysts recently weighed in on AAUC shares. Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Zacks Research raised Allied Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th.

Allied Gold Trading Up 0.2%

Shares of AAUC opened at $31.35 on Friday. Allied Gold has a fifty-two week low of $8.67 and a fifty-two week high of $32.08. The business has a 50-day simple moving average of $27.76. The stock has a market capitalization of $3.93 billion and a PE ratio of -87.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Allied Gold in the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC bought a new position in Allied Gold in the 2nd quarter valued at approximately $127,000. Kovack Advisors Inc. bought a new position in Allied Gold in the 4th quarter valued at approximately $255,000. Investment Management Corp of Ontario purchased a new stake in Allied Gold during the 4th quarter valued at $268,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allied Gold by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,998 shares of the company’s stock worth $280,000 after purchasing an additional 5,627 shares in 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.