Alamos Gold (NYSE:AGI) Stock Rating Raised to “Hold” at Zacks Research

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other analysts have also recently issued reports on AGI. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Jefferies Financial Group lowered their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Bank of America cut their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Alamos Gold in a research report on Wednesday, September 16th. Finally, Weiss Ratings raised Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Stock Performance

NYSE:AGI opened at $29.98 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.01 and a quick ratio of 1.62. The firm has a 50-day moving average of $33.28 and a two-hundred day moving average of $37.97. The stock has a market cap of $12.55 billion, a P/E ratio of 12.90, a PEG ratio of 0.43 and a beta of 0.63. Alamos Gold has a 1-year low of $26.92 and a 1-year high of $55.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in shares of Alamos Gold during the third quarter valued at approximately $29,000. Parallel Advisors LLC acquired a new stake in Alamos Gold in the first quarter worth approximately $35,000. Versant Capital Management Inc lifted its position in Alamos Gold by 258.0% in the third quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 885 shares during the period. Sunbelt Securities Inc. acquired a new stake in Alamos Gold in the first quarter worth approximately $59,000. Finally, CoreCap Advisors LLC boosted its stake in Alamos Gold by 146.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,900 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 1,130 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.