Alamos Gold (NYSE:AGI) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a sell rating in a research report sent to investors on Tuesday, August 7th.

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. “

AGI has been the subject of a number of other reports. Desjardins upgraded shares of Alamos Gold from a hold rating to a buy rating in a report on Thursday, June 7th. ValuEngine lowered shares of Alamos Gold from a sell rating to a strong sell rating in a report on Thursday, April 12th. Finally, TheStreet upgraded shares of Alamos Gold from a d+ rating to a c- rating in a report on Wednesday, June 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $8.45.

AGI traded down $0.01 during trading on Tuesday, reaching $4.39. The stock had a trading volume of 903,700 shares, compared to its average volume of 1,869,285. Alamos Gold has a one year low of $4.21 and a one year high of $8.58. The stock has a market cap of $1.77 billion, a PE ratio of 37.08, a P/E/G ratio of 1.12 and a beta of 0.17.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Alamos Gold had a net margin of 2.50% and a return on equity of 1.70%. The business had revenue of $169.00 million for the quarter, compared to analysts’ expectations of $164.28 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The business’s quarterly revenue was up 29.0% on a year-over-year basis. equities research analysts predict that Alamos Gold will post 0.11 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of AGI. CIBC Asset Management Inc increased its stake in shares of Alamos Gold by 125.4% during the second quarter. CIBC Asset Management Inc now owns 9,367,625 shares of the basic materials company’s stock valued at $53,380,000 after purchasing an additional 5,211,004 shares in the last quarter. Formula Growth Ltd. increased its stake in shares of Alamos Gold by 613.0% during the second quarter. Formula Growth Ltd. now owns 4,991,300 shares of the basic materials company’s stock valued at $28,400,000 after purchasing an additional 4,291,300 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of Alamos Gold during the second quarter valued at approximately $12,815,000. Millennium Management LLC increased its stake in shares of Alamos Gold by 75.6% during the first quarter. Millennium Management LLC now owns 3,285,644 shares of the basic materials company’s stock valued at $17,118,000 after purchasing an additional 1,414,679 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Alamos Gold by 24.6% during the second quarter. Bank of New York Mellon Corp now owns 6,703,279 shares of the basic materials company’s stock valued at $38,141,000 after purchasing an additional 1,324,377 shares in the last quarter. Institutional investors and hedge funds own 59.78% of the company’s stock.

About Alamos Gold

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.

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