Alamos Gold (NYSE:AGI) Downgraded by Wall Street Zen to Hold

Key Points

• Alamos Gold was downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen, reflecting a shift in market sentiment.
• Despite the downgrade, the consensus rating remains a "buy" among analysts, with two ratings classified as Strong Buy.
• The company's shares recently traded at $34.00, with a 52-week low of $17.42 and a high of $35.61, indicating significant price volatility.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Friday.

Other equities research analysts have also recently issued reports about the company. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alamos Gold in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Alamos Gold presently has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold Price Performance

Shares of NYSE:AGI traded down $0.41 during trading on Friday, reaching $34.00. 3,425,004 shares of the company's stock traded hands, compared to its average volume of 4,310,065. Alamos Gold has a fifty-two week low of $17.42 and a fifty-two week high of $35.61. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The firm has a market cap of $14.30 billion, a PE ratio of 40.96, a P/E/G ratio of 0.70 and a beta of 0.50. The company has a 50-day simple moving average of $29.82 and a 200-day simple moving average of $27.71.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The firm had revenue of $438.20 million for the quarter, compared to analysts' expectations of $400.61 million. During the same period last year, the firm earned $0.24 EPS. The company's quarterly revenue was up 31.7% on a year-over-year basis. As a group, analysts predict that Alamos Gold will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Addenda Capital Inc. lifted its stake in Alamos Gold by 12.3% in the 2nd quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company's stock worth $51,657,000 after purchasing an additional 212,918 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Alamos Gold during the 1st quarter valued at approximately $320,000. Confluence Investment Management LLC purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at approximately $717,000. Cigna Investments Inc. New purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at approximately $201,000. Finally, Brown Advisory Inc. raised its position in shares of Alamos Gold by 9.3% during the 1st quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company's stock valued at $315,000 after buying an additional 1,000 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.

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