Alamos Gold Inc. (AGI) Cut to Sell at Zacks Investment Research
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. “
Several other research analysts also recently issued reports on AGI. Royal Bank Of Canada restated a sector perform rating and set a $9.00 price objective (up previously from $8.50) on shares of Alamos Gold in a report on Thursday, May 19th. National Bank Financial upgraded shares of Alamos Gold from a sector perform rating to an outperform rating in a report on Friday, May 27th. Raymond James Financial Inc. raised shares of Alamos Gold from a market perform rating to an outperform rating in a research note on Monday, June 27th. Credit Suisse Group AG raised shares of Alamos Gold from a neutral rating to an outperform rating and upped their target price for the company from $7.50 to $11.00 in a research note on Thursday, June 30th. Finally, TheStreet raised shares of Alamos Gold from a sell rating to a hold rating in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $9.03.
Shares of Alamos Gold (NYSE:AGI) opened at 7.91 on Tuesday. The stock’s 50 day moving average price is $8.53 and its 200-day moving average price is $7.29. Alamos Gold has a 12-month low of $2.27 and a 12-month high of $10.41. The company’s market cap is $2.11 billion.
Alamos Gold (NYSE:AGI) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Alamos Gold had a negative net margin of 21.64% and a negative return on equity of 3.73%. The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $129.13 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue was up 68.7% compared to the same quarter last year. On average, equities research analysts forecast that Alamos Gold will post $0.04 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Eagle Boston Investment Management Inc. raised its position in shares of Alamos Gold by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 437,097 shares of the company’s stock worth $3,759,000 after buying an additional 11,364 shares during the last quarter. Royal Bank of Canada raised its position in shares of Alamos Gold by 8,946.8% in the first quarter. Royal Bank of Canada now owns 3,179,411 shares of the company’s stock worth $16,820,000 after buying an additional 3,144,267 shares during the last quarter. Moore Capital Management LP bought a new position in shares of Alamos Gold during the first quarter worth about $434,000. Aristotle Capital Boston LLC raised its position in shares of Alamos Gold by 13.3% in the first quarter. Aristotle Capital Boston LLC now owns 283,676 shares of the company’s stock worth $1,501,000 after buying an additional 33,381 shares during the last quarter. Finally, Sun Valley Gold LLC raised its position in shares of Alamos Gold by 4.8% in the first quarter. Sun Valley Gold LLC now owns 7,995,071 shares of the company’s stock worth $42,294,000 after buying an additional 363,700 shares during the last quarter. Institutional investors own 61.91% of the company’s stock.
Alamos Gold Company Profile
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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