Alamos Gold (AGI) Lifted to Buy at Zacks Investment Research
Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $7.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.13% from the stock’s previous close.
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. “
AGI has been the subject of a number of other reports. ValuEngine lowered shares of Alamos Gold from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Royal Bank Of Canada set a $9.00 price target on shares of Alamos Gold and gave the company a “hold” rating in a report on Tuesday, October 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $11.50 price target (down from $14.00) on shares of Alamos Gold in a report on Friday, November 24th. Finally, BidaskClub raised shares of Alamos Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.88.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Alamos Gold during the 2nd quarter worth $106,000. Raymond James Financial Services Advisors Inc. grew its holdings in Alamos Gold by 3.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,070 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 717 shares in the last quarter. Empirical Finance LLC acquired a new position in Alamos Gold during the 3rd quarter worth $138,000. Oxbow Advisors LLC grew its holdings in Alamos Gold by 80.2% during the 3rd quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 11,605 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Alamos Gold by 37.1% during the 1st quarter. Legal & General Group Plc now owns 28,798 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 7,800 shares in the last quarter. 63.00% of the stock is owned by institutional investors and hedge funds.
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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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