Allied Gold saw its IBD SmartSelect Composite Rating rise to 96 Monday, up from 94 the day before.
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The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Allied Gold is trading about 3% above a 15.79 entry from a cup without handle. Understand that it is a thinly traded stock, with average daily dollar volume under $8 million. Such stocks may show wider daily or weekly fluctuations than stocks with greater trading volume.
One weak spot is the company's 75 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company posted 33% EPS growth for Q2. Sales growth came in at 29%, down from 98% in the prior quarter. The company's next quarterly report is expected on or around Jan. 1.
Allied Gold earns the No. 34 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and AngloGold Ashanti are among the top 5 highly-rated stocks within the group.
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