Allied Gold (NYSE:AAUC) Hits New 1-Year High – Should You Buy?
by Doug Wharley · The Cerbat GemAllied Gold Corporation (NYSE:AAUC – Get Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $28.70 and last traded at $27.8390, with a volume of 373180 shares traded. The stock had previously closed at $27.62.
Analyst Ratings Changes
Several brokerages have issued reports on AAUC. Stifel Canada upgraded shares of Allied Gold to a “strong-buy” rating in a research report on Thursday, November 6th. Zacks Research cut shares of Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings initiated coverage on Allied Gold in a research report on Thursday, October 30th. They set a “sell (d-)” rating for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.
Check Out Our Latest Report on Allied Gold
Allied Gold Price Performance
The stock’s 50-day moving average price is $22.00. The stock has a market cap of $3.59 billion and a PE ratio of -79.89.
Allied Gold (NYSE:AAUC – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.18). Allied Gold had a positive return on equity of 24.32% and a negative net margin of 3.58%.
Hedge Funds Weigh In On Allied Gold
Hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Allied Gold in the second quarter valued at $13,169,000. Orion Resource Partners LP bought a new stake in shares of Allied Gold in the 2nd quarter valued at about $103,634,000. Tower Research Capital LLC TRC bought a new stake in shares of Allied Gold in the 2nd quarter valued at about $127,000. Cibc World Market Inc. increased its stake in shares of 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 period. Finally, JPMorgan Chase & Co. raised its position in shares of Allied Gold by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 1,867,201 shares of the company’s stock worth $32,695,000 after acquiring an additional 75,931 shares during the last quarter.
Allied Gold Company Profile
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.