Alamos Gold Inc (US) (AGI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Alamos Gold Inc (US) (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research note released on Tuesday. The firm currently has $6.75 price target on the basic materials company’s stock.

According to Zacks, “Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. “

A number of other analysts have also weighed in on AGI. Royal Bank of Canada reduced their target price on Alamos Gold Inc (US) from $9.00 to $8.50 and set a sector perform rating on the stock in a research note on Tuesday. ValuEngine upgraded Alamos Gold Inc (US) from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Scotiabank reduced their target price on Alamos Gold Inc (US) from $11.00 to $9.00 and set a sector perform rating on the stock in a research note on Monday, December 18th. BMO Capital Markets reiterated a buy rating and issued a $11.50 target price (down previously from $14.00) on shares of Alamos Gold Inc (US) in a research note on Friday, November 24th. Finally, Desjardins reiterated a hold rating on shares of Alamos Gold Inc (US) in a research note on Monday, December 11th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $9.55.

Shares of Alamos Gold Inc (NYSE:AGI) opened at $6.05 on Tuesday. Alamos Gold Inc has a twelve month low of $5.84 and a twelve month high of $9.00. The firm has a market capitalization of $2,353.81, a price-to-earnings ratio of 100.83 and a beta of 0.46.

Alamos Gold Inc (US) (NYSE:AGI) (TSE:AGI) last released its earnings results on Thursday, November 2nd. The basic materials company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alamos Gold Inc (US) had a return on equity of 1.07% and a net margin of 2.08%. analysts forecast that Alamos Gold Inc will post 0.16 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Alamos Gold Inc (US) during the second quarter valued at $106,000. Empirical Finance LLC purchased a new position in shares of Alamos Gold Inc (US) during the third quarter valued at $138,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Alamos Gold Inc (US) by 3.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,070 shares of the basic materials company’s stock valued at $144,000 after buying an additional 717 shares during the period. Oxbow Advisors LLC increased its stake in shares of Alamos Gold Inc (US) by 80.2% during the third quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock valued at $176,000 after buying an additional 11,605 shares during the period. Finally, Fore Research & Management LP purchased a new position in shares of Alamos Gold Inc (US) during the second quarter valued at $215,000. Hedge funds and other institutional investors own 63.00% of the company’s stock.

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Alamos Gold Inc (US) Company Profile

Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.

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