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

Key Points

• Zacks Research downgraded Alamos Gold to “strong sell” from “hold,” although the broader analyst consensus remains “Moderate Buy,” with seven buy ratings and an average price target of $47.50.
• Alamos Gold reported quarterly EPS of $0.59, beating estimates of $0.52, while revenue rose 35.6% year over year to $594.1 million.
• Institutional investors increased their positions, and hedge funds and other institutions collectively own 64.33% of the company; shares opened at $32.78, below both their 50-day and 200-day moving averages.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages have also commented on AGI. Weiss Ratings cut shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Bank of America cut their price target 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. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Jefferies Financial Group dropped their price objective on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report 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 note on Wednesday, September 16th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Alamos Gold currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Stock Up 1.5%

Shares of AGI stock opened at $32.78 on Monday. The stock's fifty 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. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 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 company had revenue of $594.10 million during the quarter, compared to analysts' expectations of $593.58 million. During the same period last year, the business posted $0.34 earnings per share. The firm's revenue was up 35.6% compared to the same quarter last year. On average, research analysts expect that Alamos Gold will post 2.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank grew its position 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 purchasing an additional 298,900 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 worth $74,757,000 after purchasing an additional 141,000 shares during the last quarter. DJE Kapital AG lifted its stake in Alamos Gold by 66.2% in the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company's stock valued at $12,665,000 after buying an additional 118,006 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 buying an additional 1,216,977 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Alamos Gold during the 1st quarter worth approximately $13,332,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Company Profile

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.

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