Allied Gold (NYSE:AAUC) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Allied Gold (NYSE:AAUC) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on AAUC. Stifel Nicolaus lowered shares of Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gold in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group cut Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Allied Gold Stock Up 0.2%

Shares of NYSE:AAUC opened at $31.64 on Monday. Allied Gold has a 12 month low of $8.67 and a 12 month high of $32.08. The company’s fifty day simple moving average is $29.81 and its 200 day simple moving average is $22.24. The firm has a market cap of $3.96 billion and a price-to-earnings ratio of -87.89.

Institutional Investors Weigh In On Allied Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Allied Gold during the 4th quarter worth about $245,000. Toronto Dominion Bank increased its position in shares of Allied Gold by 1,336.3% in the fourth quarter. Toronto Dominion Bank now owns 197,221 shares of the company’s stock valued at $4,519,000 after acquiring an additional 183,490 shares during the last quarter. Investment Management Corp of Ontario acquired a new stake in shares of Allied Gold in the fourth quarter valued at about $268,000. Engineers Gate Manager LP bought a new stake in Allied Gold during the fourth quarter worth about $422,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Allied Gold during the fourth quarter worth about $780,000.

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.