Alamos Gold (NYSE:AGI) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a strong sell rating in a report published on Monday,Zacks reports.

Several other equities analysts have also recently commented on AGI. Bank of America reduced their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Alamos Gold in a report on Wednesday, September 16th. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Jefferies Financial Group reduced their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Stock Performance

NYSE:AGI opened at $31.52 on Monday. The firm has a 50-day moving average of $34.35 and a two-hundred day moving average of $36.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market cap of $13.19 billion, a P/E ratio of 11.38, a PEG ratio of 0.44 and a beta of 0.59. Alamos Gold has a 1-year low of $27.05 and a 1-year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. On average, research analysts expect that Alamos Gold will post 2.11 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s payout ratio is presently 5.78%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Swiss National Bank boosted its stake in Alamos Gold by 26.8% during the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock valued at $62,782,000 after purchasing an additional 298,900 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Alamos Gold by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after purchasing an additional 141,000 shares during the period. DJE Kapital AG increased its stake in shares of Alamos Gold by 66.2% in the first quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock valued at $12,665,000 after purchasing an additional 118,006 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock valued at $183,963,000 after buying an additional 1,216,977 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Alamos Gold during the first quarter valued at approximately $13,332,000. 64.33% of the stock is currently owned by institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company’s activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold’s principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.