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

Shares of Allied Gold Corporation (NYSE:AAUC) have been given an average recommendation of “Reduce” by the four brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company.

Several equities research analysts have commented on AAUC shares. Zacks Research lowered shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Stifel Nicolaus cut Allied Gold from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Canaccord Genuity Group downgraded Allied Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Allied Gold during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC acquired a new position in shares of Allied Gold in the 2nd quarter valued at $127,000. Virtu Financial LLC acquired a new position in shares of Allied Gold in the 4th quarter valued at $245,000. Kovack Advisors Inc. purchased a new stake in Allied Gold during the fourth quarter worth $255,000. Finally, Investment Management Corp of Ontario purchased a new stake in Allied Gold during the fourth quarter worth $268,000.

Allied Gold Price Performance

NYSE:AAUC opened at $31.05 on Wednesday. The company’s fifty day moving average price is $30.79 and its 200-day moving average price is $23.03. Allied Gold has a 1-year low of $8.67 and a 1-year high of $32.08. The firm has a market capitalization of $3.89 billion and a P/E 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.