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

Key Points

• Wall Street Zen downgraded Alamos Gold from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with nine Buy ratings and two Hold ratings and an average price target of $47.50.
• Alamos Gold reported quarterly EPS of $0.59, beating estimates of $0.52, while revenue reached $594.1 million, up 35.6% year over year and roughly in line with expectations.
• The stock opened at $27.83, well below its 12-month high of $55.41; institutional investors and hedge funds collectively own 64.33% of the company.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

A number of other brokerages have also recently weighed in on AGI. Royal Bank Of Canada reduced their price target on shares of Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Alamos Gold in a research report on Saturday, June 20th. Jefferies Financial Group decreased their target price on Alamos Gold from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Finally, Weiss Ratings downgraded Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Stock Performance

NYSE:AGI opened at $27.83 on Friday. Alamos Gold has a 12 month low of $23.92 and a 12 month high of $55.41. The business's fifty day moving average price is $32.84 and its 200 day moving average price is $40.28. The firm has a market capitalization of $11.65 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.77% and a net margin of 52.64%.The firm's revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that Alamos Gold will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold during the 4th quarter valued at approximately $25,000. Clearstead Advisors LLC boosted its stake in shares of Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock valued at $25,000 after buying an additional 251 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock worth $28,000 after buying an additional 222 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Alamos Gold in the first quarter worth $35,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Alamos Gold in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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