Zacks Investment Research cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.
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. “
A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Alamos Gold from $8.50 to $7.50 and set a sector perform rating on the stock in a research note on Wednesday, July 15th. Stifel Nicolaus lifted their target price on shares of Alamos Gold from $15.00 to $20.00 and gave the company a buy rating in a research note on Wednesday, July 15th. Desjardins assumed coverage on shares of Alamos Gold in a report on Tuesday, September 8th. They issued a buy rating and a $18.50 price target on the stock. TD Securities lifted their price target on shares of Alamos Gold from $17.00 to $18.00 and gave the company a buy rating in a report on Thursday, July 16th. Finally, BMO Capital Markets lifted their price target on shares of Alamos Gold from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, July 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $12.86.
Shares of AGI traded down $0.07 on Tuesday, hitting $9.99. 35,357 shares of the stock traded hands, compared to its average volume of 2,224,764. The company has a market capitalization of $3.98 billion, a PE ratio of 40.64, a P/E/G ratio of 0.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.63 and a current ratio of 3.81. The business has a 50 day simple moving average of $10.23 and a 200 day simple moving average of $8.26. Alamos Gold has a one year low of $3.34 and a one year high of $11.58.
Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 29th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The company had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $111.60 million. Alamos Gold had a net margin of 8.32% and a return on equity of 3.54%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. On average, equities analysts expect that Alamos Gold will post 0.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.60%. Alamos Gold’s dividend payout ratio is presently 30.00%.
Several hedge funds have recently added to or reduced their stakes in AGI. FMR LLC boosted its stake in shares of Alamos Gold by 2.1% during the 1st quarter. FMR LLC now owns 5,226,012 shares of the basic materials company’s stock worth $26,515,000 after purchasing an additional 106,099 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in Alamos Gold by 16.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 950,234 shares of the basic materials company’s stock valued at $4,827,000 after buying an additional 134,396 shares during the period. Russell Investments Group Ltd. purchased a new stake in Alamos Gold in the 1st quarter valued at about $2,366,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alamos Gold by 66.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,228 shares of the basic materials company’s stock valued at $175,000 after buying an additional 14,107 shares during the period. Finally, Swiss National Bank boosted its position in Alamos Gold by 2.4% in the 1st quarter. Swiss National Bank now owns 766,736 shares of the basic materials company’s stock valued at $3,784,000 after buying an additional 17,900 shares during the period. 53.48% of the stock is owned by hedge funds and other institutional investors.
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's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada.
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