Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of “Reduce” from Brokerages

Allied Gold Corporation (NYSE:AAUC) has earned a consensus rating of “Reduce” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating on the company.

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a report on Friday, April 24th. Canaccord Genuity Group raised shares of Allied Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, Zacks Research downgraded shares of Allied Gold from a “hold” rating to a “strong sell” rating in a research report on Monday.

Allied Gold Trading Down 2.4%

Shares of NYSE AAUC opened at $21.17 on Tuesday. The stock has a market capitalization of $2.68 billion and a PE ratio of -20.55. The stock’s fifty day simple moving average is $24.69 and its two-hundred day simple moving average is $28.46. Allied Gold has a 12-month low of $11.40 and a 12-month high of $32.20.

Allied Gold (NYSE:AAUC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $394.11 million during the quarter. Allied Gold had a positive return on equity of 36.56% and a negative net margin of 9.08%. On average, equities analysts predict that Allied Gold will post 4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allied Gold

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Allied Gold during the 1st quarter valued at $34,000. Global Retirement Partners LLC purchased a new position in Allied Gold during the 4th quarter worth $34,000. Tower Research Capital LLC TRC acquired a new position in Allied Gold during the 2nd quarter valued at about $127,000. Virtu Financial LLC acquired a new position in Allied Gold during the 4th quarter valued at about $245,000. Finally, Kovack Advisors Inc. purchased a new stake in Allied Gold in the fourth quarter valued at about $255,000.

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.