Alamos Gold Inc. (AGI) Stock Price Down 6.7%
Alamos Gold Inc. (NYSE:AGI) shares were down 6.7% during mid-day trading on Wednesday . The company traded as low as $7.62 and last traded at $7.66, with a volume of 1,024,237 shares changing hands. The stock had previously closed at $8.21.
A number of research analysts have recently issued reports on AGI shares. Credit Suisse Group AG upgraded shares of Alamos Gold from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $7.50 to $11.00 in a report on Thursday, June 30th. Raymond James Financial Inc. upgraded shares of Alamos Gold from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. TD Securities reiterated a “hold” rating and set a $8.50 price objective (up from $8.00) on shares of Alamos Gold in a report on Saturday, May 14th. Zacks Investment Research upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, August 2nd. Finally, National Bank Financial reiterated a “sector perform” rating and set a $9.50 price objective (up from $9.00) on shares of Alamos Gold in a report on Saturday, May 14th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.03.
The firm’s 50-day moving average price is $9.19 and its 200-day moving average price is $6.91. The company’s market cap is $2.01 billion.
Alamos Gold (NYSE:AGI) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $129.13 million. The business’s revenue was up 68.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. On average, equities analysts anticipate that Alamos Gold Inc. will post $0.04 EPS for the current year.
A hedge fund recently raised its stake in Alamos Gold stock. I.G. Investment Management LTD. raised its position in Alamos Gold Inc. (NYSE:AGI) by 0.7% during the fourth quarter, according to its most recent 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 1.78% of Alamos Gold worth $14,988,000 as of its most recent SEC filing.
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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