Allied Gold Corporation $AAUC Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Allied Gold Corporation (NYSE:AAUC) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,867,201 shares of the company’s stock after acquiring an additional 75,931 shares during the period. JPMorgan Chase & Co. owned approximately 1.50% of Allied Gold worth $32,695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAUC. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold in the 2nd quarter valued at $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allied Gold by 54.3% during 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 during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Allied Gold by 11.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the company’s stock worth $363,000 after purchasing an additional 2,214 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Allied Gold in the 3rd quarter valued at about $366,000. Finally, Cibc World Market Inc. lifted 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 valued at $396,000 after buying an additional 7,991 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have 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 reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Canaccord Genuity Group lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Zacks Research cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Allied Gold Trading Up 0.1%

AAUC opened at $31.05 on Monday. The stock’s 50-day moving average price is $30.79 and its 200 day moving average price is $23.15. Allied Gold Corporation has a 12-month low of $8.67 and a 12-month high of $32.08. The firm has a market cap of $3.89 billion and a price-to-earnings ratio of -86.25.

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.