Alamos Gold (NYSE:AGI) Stock Rating Lowered by Wall Street Zen

Alamos Gold (NYSE:AGIGet Free Report) (TSE:AGI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the company. Desjardins assumed coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Bank of America increased their target price on shares of Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.00.

View Our Latest Stock Analysis on AGI

Alamos Gold Trading Down 3.3%

Shares of NYSE:AGI opened at $38.95 on Friday. Alamos Gold has a 52 week low of $19.07 and a 52 week high of $43.87. The company’s 50 day moving average is $37.52 and its two-hundred day moving average is $32.53. The company has a market cap of $16.35 billion, a PE ratio of 30.43, a P/E/G ratio of 0.38 and a beta of 0.63. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGIGet Free Report) (TSE:AGI) last posted its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The firm had revenue of $462.30 million for the quarter, compared to analyst estimates of $490.96 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Alamos Gold’s revenue for the quarter was up 28.1% compared to the same quarter last year. Equities analysts predict that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Alamos Gold by 20.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock valued at $390,000 after buying an additional 2,493 shares in the last quarter. Addenda Capital Inc. lifted its position in shares of Alamos Gold by 12.3% during the 2nd quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after acquiring an additional 212,918 shares during the period. Calamos Wealth Management LLC acquired a new stake in shares of Alamos Gold during the 2nd quarter valued at approximately $3,070,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Alamos Gold during the 2nd quarter worth approximately $1,502,000. Finally, PCJ Investment Counsel Ltd. grew its holdings in shares of Alamos Gold by 37.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock worth $2,282,000 after acquiring an additional 23,560 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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Alamos Gold Company Profile

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Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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