Zacks Research Downgrades Alamos Gold (NYSE:AGI) to Strong Sell

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

Other analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Bank of America decreased their target price on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group dropped their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Alamos Gold in a research report on Wednesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Price Performance

AGI stock opened at $32.78 on Monday. The firm has a market cap of $13.72 billion, a P/E ratio of 11.84, a PEG ratio of 0.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The stock’s 50 day moving average price is $34.29 and its 200 day moving average price is $36.83. Alamos Gold has a 1 year low of $27.05 and a 1 year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The firm had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts expect that Alamos Gold will post 2.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new stake in Alamos Gold during the first quarter valued at about $35,000. Versant Capital Management Inc lifted its position in shares of Alamos Gold by 258.0% during the third quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 885 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Alamos Gold in the first quarter valued at approximately $59,000. EverSource Wealth Advisors LLC increased its position in shares of Alamos Gold by 73.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,497 shares of the basic materials company’s stock valued at $111,000 after buying an additional 1,056 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Alamos Gold during the second quarter worth about $192,000. 64.33% of the stock is currently owned by institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company’s activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold’s principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.