Alamos Gold Inc. (AGI) Sees Strong Trading Volume
Alamos Gold Inc. (NYSE:AGI) saw unusually-high trading volume on Friday . Approximately 3,249,290 shares were traded during mid-day trading, an increase of 117% from the previous session’s volume of 1,500,688 shares.The stock last traded at $8.63 and had previously closed at $9.09.
AGI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Alamos Gold from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, August 2nd. Bank of America Corp. reiterated a “buy” rating on shares of Alamos Gold in a research report on Tuesday, July 12th. Desjardins upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Canaccord Genuity lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Alamos Gold in a research report on Saturday, May 14th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.03.
The stock’s market cap is $2.30 billion. The stock has a 50 day moving average price of $9.24 and a 200 day moving average price of $6.80.
Alamos Gold (NYSE:AGI) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $129.13 million. The firm’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. Equities research analysts forecast that Alamos Gold Inc. will post $0.04 EPS for the current year.
An institutional investor recently raised its position in Alamos Gold stock. I.G. Investment Management LTD. increased its position in Alamos Gold Inc. (NYSE:AGI) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,555,741 shares of the company’s stock after buying an additional 30,651 shares during the period. I.G. Investment Management LTD. owned about 1.78% of Alamos Gold worth $14,988,000 at the end of the most recent 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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