Alamos Gold (NYSE:AGI) Stock Rating Upgraded by Zacks Research

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group decreased their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Thursday, October 29th. Bank of America cut their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Trading Up 10.7%

Shares of AGI stock opened at $29.98 on Tuesday. The business has a 50-day moving average price of $33.28 and a two-hundred day moving average price of $37.97. Alamos Gold has a 12-month low of $26.92 and a 12-month high of $55.41. The company has a quick ratio of 1.62, a current ratio of 2.01 and a debt-to-equity ratio of 0.04. The firm has a market cap of $12.55 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.43 and a beta of 0.63.

Institutional Trading of Alamos Gold

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position 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 acquiring an additional 1,216,977 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Alamos Gold in the 2nd quarter worth approximately $21,043,000. Trek Financial LLC bought a new stake in Alamos Gold in the third quarter valued at approximately $13,107,000. Bradley Foster & Sargent Inc. CT lifted its position in Alamos Gold by 52.2% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 1,026,135 shares of the basic materials company’s stock valued at $45,591,000 after purchasing an additional 351,713 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in Alamos Gold in the first quarter valued at approximately $13,332,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.