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

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Finally, Bank of America reduced their price target on Alamos Gold from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Alamos Gold presently has an average rating of “Buy” and an average price target of $53.00.

Alamos Gold Trading Up 0.6%

Shares of NYSE AGI opened at $31.29 on Friday. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41. The business has a fifty day moving average price of $39.46 and a 200 day moving average price of $41.94. The stock has a market capitalization of $13.12 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 0.41 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Equities research analysts expect that Alamos Gold will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

A number of large investors have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new position in shares of Alamos Gold in the 4th quarter valued at $25,000. Clearstead Advisors LLC grew its stake in Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Parallel Advisors LLC acquired a new position in shares of Alamos Gold in the first quarter valued at about $35,000. Finally, Bayforest Capital Ltd purchased a new position in shares of Alamos Gold in the fourth quarter worth about $44,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

About Alamos Gold

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.