Alamos Gold (NYSE:AGI) Raised to Hold at Zacks Research

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

A number of other research firms have also weighed in on AGI. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Jefferies Financial Group lowered their target price 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. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a report on Thursday, October 29th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Trading Up 10.7%

Shares of Alamos Gold stock opened at $29.98 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.01 and a quick ratio of 1.62. Alamos Gold has a 1 year low of $26.92 and a 1 year high of $55.41. The business has a 50 day moving average price of $33.28 and a 200 day moving average price of $37.97. The company has a market capitalization of $12.55 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.43 and a beta of 0.63.

Institutional Investors Weigh In On Alamos Gold

Several hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its stake in shares of Alamos Gold by 26.8% in the first quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock valued at $62,782,000 after buying an additional 298,900 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alamos Gold by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after buying an additional 141,000 shares during the period. DJE Kapital AG lifted its position in Alamos Gold by 66.2% during the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock worth $12,665,000 after acquiring an additional 118,006 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Alamos Gold by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after acquiring an additional 1,216,977 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in Alamos Gold during the 1st quarter worth approximately $13,332,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.