Alamos Gold (AGI) Lowered to Market Perform at Raymond James

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other brokerages also recently issued reports on AGI. Royal Bank of Canada lowered their price target on shares of Alamos Gold from $7.00 to $5.50 and set a “sector perform” rating on the stock in a report on Thursday, January 24th. Desjardins downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. CIBC reissued an “average” rating and issued a $8.25 price target on shares of Alamos Gold in a report on Monday, January 21st. ValuEngine upgraded shares of Alamos Gold from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded shares of Alamos Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Alamos Gold currently has a consensus rating of “Hold” and an average target price of $6.94.

Shares of Alamos Gold stock traded down $0.04 on Thursday, reaching $4.84. The stock had a trading volume of 1,578,127 shares, compared to its average volume of 1,871,836. Alamos Gold has a 1 year low of $2.90 and a 1 year high of $6.13. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 1.20 and a beta of 0.23.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 20th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Alamos Gold had a negative net margin of 0.89% and a positive return on equity of 0.93%. The firm had revenue of $163.10 million for the quarter, compared to the consensus estimate of $163.25 million. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Alamos Gold will post 0.05 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Eagle Boston Investment Management Inc. increased its position in shares of Alamos Gold by 17.7% in the third quarter. Eagle Boston Investment Management Inc. now owns 670,860 shares of the basic materials company’s stock worth $3,092,000 after purchasing an additional 101,098 shares during the last quarter. Aristotle Capital Boston LLC grew its position in Alamos Gold by 37.5% during the third quarter. Aristotle Capital Boston LLC now owns 803,415 shares of the basic materials company’s stock valued at $3,704,000 after acquiring an additional 219,102 shares during the last quarter. AGF Investments Inc. grew its position in Alamos Gold by 5.3% during the third quarter. AGF Investments Inc. now owns 510,698 shares of the basic materials company’s stock valued at $2,345,000 after acquiring an additional 25,500 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alamos Gold by 59.6% during the third quarter. Bank of New York Mellon Corp now owns 10,698,902 shares of the basic materials company’s stock valued at $49,322,000 after acquiring an additional 3,995,623 shares during the last quarter. Finally, Ruffer LLP bought a new position in Alamos Gold during the fourth quarter valued at approximately $2,343,000. Institutional investors own 57.63% 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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