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

Key Points

• Alamos Gold has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen, while other analysts maintain an overall consensus rating of "buy" with a target price of $30.38.
• The company's recent earnings report showed a revenue of $438.20 million, surpassing expectations, and an earnings per share (EPS) of $0.34, exceeding the consensus estimate.
• Institutional interest in Alamos Gold is robust, with significant increases in share holdings from firms like Dimensional Fund Advisors, which raised its position by 296.6%, among others.

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 report issued on Saturday.

Several other equities research analysts have also recently commented on AGI. CIBC reissued an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Stifel Nicolaus began coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Finally, Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Alamos Gold has a consensus rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Trading Up 2.2%

Shares of NYSE:AGI opened at $25.96 on Friday. The stock has a market capitalization of $10.91 billion, a PE ratio of 31.28, a P/E/G ratio of 0.56 and a beta of 0.51. Alamos Gold has a 1 year low of $17.42 and a 1 year high of $31.00. The firm has a fifty day moving average price of $26.24 and a 200 day moving average price of $25.65. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock worth $136,011,000 after purchasing an additional 5,516,186 shares during the last quarter. Norges Bank purchased a new position in Alamos Gold during the 2nd quarter valued at about $144,808,000. Geode Capital Management LLC increased its position in Alamos Gold by 639.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company's stock valued at $91,379,000 after purchasing an additional 2,923,478 shares during the period. CIBC Asset Management Inc increased its position in Alamos Gold by 29.3% during the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company's stock valued at $296,623,000 after purchasing an additional 2,521,347 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Alamos Gold by 32.3% in the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company's stock valued at $238,990,000 after buying an additional 2,192,593 shares in the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

About Alamos Gold

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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