Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 4,197,316 shares, a drop of 35.8% from the November 30th total of 6,538,909 shares. Based on an average daily trading volume, of 2,463,042 shares, the short-interest ratio is presently 1.7 days. Approximately 1.6% of the shares of the stock are sold short.
Several research firms have weighed in on AGI. ValuEngine downgraded Alamos Gold from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Royal Bank of Canada set a $9.00 price objective on Alamos Gold and gave the stock a “hold” rating in a report on Tuesday, October 10th. BMO Capital Markets restated a “buy” rating and set a $11.50 price objective (down previously from $14.00) on shares of Alamos Gold in a report on Friday, November 24th. Zacks Investment Research cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Desjardins restated a “hold” rating on shares of Alamos Gold in a report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.70.
Several hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. acquired a new position in Alamos Gold in the third quarter valued at $222,000. Jane Street Group LLC boosted its holdings in Alamos Gold by 442.5% in the third quarter. Jane Street Group LLC now owns 402,032 shares of the basic materials company’s stock valued at $2,718,000 after acquiring an additional 327,918 shares during the last quarter. Magnetar Financial LLC acquired a new position in Alamos Gold in the third quarter valued at $1,373,000. Commerzbank Aktiengesellschaft FI boosted its holdings in Alamos Gold by 23.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 188,458 shares of the basic materials company’s stock valued at $1,274,000 after acquiring an additional 36,307 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Alamos Gold in the third quarter valued at $3,348,000. Institutional investors and hedge funds own 63.00% of the company’s stock.
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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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