Alamos Gold Inc. (AGI) Trading Up 3.3%
Shares of Alamos Gold Inc. (NYSE:AGI) were up 3.3% during mid-day trading on Tuesday . The company traded as high as $9.72 and last traded at $9.59, with a volume of 829,363 shares changing hands. The stock had previously closed at $9.28.
A number of analysts have recently issued reports on AGI shares. Raymond James Financial Inc. upgraded shares of Alamos Gold from a “market perform” rating to an “outperform” rating in a research note on Monday, June 27th. Desjardins lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Bank of America Corp. restated a “buy” rating on shares of Alamos Gold in a research note on Tuesday, July 12th. National Bank Financial restated a “sector perform” rating on shares of Alamos Gold in a research note on Monday, April 11th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Alamos Gold in a research note on Saturday, May 14th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.08.
The stock’s market capitalization is $2.44 billion. The stock’s 50-day moving average is $8.88 and its 200 day moving average is $6.31.
Alamos Gold (NYSE:AGI) last announced its earnings results on Thursday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $104.30 million for the quarter, compared to the consensus estimate of $113.08 million. During the same period in the previous year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 61.5% compared to the same quarter last year. On average, analysts expect that Alamos Gold Inc. will post $0.02 EPS for the current year.
Several hedge funds and institutional investors have modified their holdings of AGI. Royce & Associates LLC raised 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 period. OppenheimerFunds Inc. raised 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 period. Bank of Montreal Can raised 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 period. Finally, I.G. Investment Management LTD. raised 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 period.
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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