Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. “
A number of other research analysts have also recently issued reports on AGI. National Bank Financial reiterated an “outperform market weight” rating on shares of Alamos Gold in a research report on Sunday, July 23rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $9.00 target price on shares of Alamos Gold in a research report on Wednesday, August 2nd. BidaskClub upgraded Alamos Gold from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. ValuEngine cut Alamos Gold from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. Finally, Raymond James Financial, Inc. restated an “ourperform” rating and set a $12.00 price target on shares of Alamos Gold in a report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Alamos Gold currently has an average rating of “Hold” and a consensus price target of $10.88.
Shares of Alamos Gold (AGI) traded down 1.05% during midday trading on Tuesday, reaching $7.57. 2,192,429 shares of the company’s stock were exchanged. Alamos Gold has a 12 month low of $5.95 and a 12 month high of $9.38. The stock’s market cap is $2.26 billion. The company’s 50 day moving average is $7.00 and its 200-day moving average is $7.39.
Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Alamos Gold had a positive return on equity of 0.45% and a negative net margin of 2.61%. The firm had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts forecast that Alamos Gold will post $0.10 EPS for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in AGI. Sprott Inc. boosted its stake in Alamos Gold by 60.9% in the second quarter. Sprott Inc. now owns 788,392 shares of the basic materials company’s stock valued at $5,661,000 after buying an additional 298,295 shares during the period. Norges Bank purchased a new stake in Alamos Gold during the fourth quarter valued at $12,125,000. American Century Companies Inc. boosted its stake in Alamos Gold by 131.0% in the first quarter. American Century Companies Inc. now owns 1,133,282 shares of the basic materials company’s stock valued at $9,101,000 after buying an additional 642,682 shares during the period. Bank of Montreal Can boosted its stake in Alamos Gold by 51.0% in the first quarter. Bank of Montreal Can now owns 628,873 shares of the basic materials company’s stock valued at $5,050,000 after buying an additional 212,537 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Alamos Gold by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,353 shares of the basic materials company’s stock valued at $155,000 after buying an additional 594 shares during the period. Institutional investors own 66.93% of the company’s stock.
About Alamos Gold
Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.
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