Shares of Alamos Gold Inc. (NYSE:AGI) dropped 2.6% during mid-day trading on Wednesday . The stock traded as low as $9.08 and last traded at $9.15, with a volume of 678,197 shares. The stock had previously closed at $9.39.

AGI has been the subject of several recent analyst reports. Raymond James Financial Inc. raised shares of Alamos Gold from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Desjardins downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Bank of America Corp. reaffirmed a “buy” rating on shares of Alamos Gold in a report on Tuesday, July 12th. National Bank Financial reaffirmed a “sector perform” rating on shares of Alamos Gold in a report on Monday, April 11th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Alamos Gold in a report on Saturday, May 14th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.08.

The firm’s market capitalization is $2.44 billion. The company has a 50-day moving average price of $8.84 and a 200-day moving average price of $6.29.

Alamos Gold (NYSE:AGI) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.07. The business earned $104.30 million during the quarter, compared to analyst estimates of $113.08 million. During the same quarter last year, the business earned $0.02 earnings per share. Alamos Gold’s revenue for the quarter was up 61.5% on a year-over-year basis. On average, analysts anticipate that Alamos Gold Inc. will post $0.02 earnings per share for the current fiscal year.

Other institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Alamos Gold by 81.0% in the fourth quarter. Bank of Montreal Can now owns 2,227,714 shares of the company’s stock worth $7,330,000 after buying an additional 997,266 shares during the last quarter. Royce & Associates LLC increased its position in shares of Alamos Gold by 77.2% in the fourth quarter. Royce & Associates LLC now owns 1,273,544 shares of the company’s stock worth $4,188,000 after buying an additional 555,000 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Alamos Gold by 5.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,715,427 shares of the company’s stock worth $5,644,000 after buying an additional 90,000 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its position in shares of Alamos Gold by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 4,555,741 shares of the company’s stock worth $14,988,000 after buying an additional 30,651 shares during the last quarter.

Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.

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