Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.
Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada decreased their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Bank of America lowered their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.50.
Check Out Our Latest Research Report on Alamos Gold
Alamos Gold Stock Up 3.2%
Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. On average, analysts predict that Alamos Gold will post 2.19 earnings per share for the current year.
Institutional Trading of Alamos Gold
Several institutional investors and hedge funds have recently modified their holdings of AGI. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its position in shares of Alamos Gold by 10.1% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 62,400 shares of the basic materials company’s stock worth $1,885,000 after purchasing an additional 5,700 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Alamos Gold by 3.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 41,978 shares of the basic materials company’s stock worth $1,274,000 after buying an additional 1,303 shares in the last quarter. Steadtrust LLC grew its stake in Alamos Gold by 2.5% in the 2nd quarter. Steadtrust LLC now owns 73,530 shares of the basic materials company’s stock worth $2,231,000 after buying an additional 1,800 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Alamos Gold by 5.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 91,500 shares of the basic materials company’s stock worth $2,773,000 after buying an additional 4,770 shares during the last quarter. Finally, Evanson Financial LLC purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at $400,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.
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.
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