10:59 AM EDT, 03/27/2024 (MT Newswires) -- National Bank of Canada said Wednesday that Allied Gold Corp. ( AAUCF ) 's adjusted EPS loss of US$0.02 per share in the fourth quarter of 2023 missed the bank's EPS forecast and the consensus estimate of US$0.03.

National Bank attributed the miss to higher expenses, lower sales, higher costs, lower realized gold price and higher depreciation.

Cash flow per share of US$0.03 was below the bank's projection of US$0.11 and the consensus forecast of US$0.07.

The bank ascribed a negative bias on the results, which were the company's first full quarter following its IPO.

National Bank gave Allied Gold ( AAUCF ) an outperform rating with a $7.50 price target.

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