Alamos Gold Inc. (AGI) Trading 4.2% Higher
Alamos Gold Inc. (NYSE:AGI) rose 4.2% on Wednesday . The stock traded as high as $9.15 and last traded at $9.09, with a volume of 1,915,091 shares traded. The stock had previously closed at $8.72.
Several equities research analysts have recently issued reports on AGI shares. Raymond James Financial Inc. raised shares of Alamos Gold from a “market perform” rating to an “outperform” rating in a research note 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. National Bank Financial restated a “sector perform” rating on shares of Alamos Gold in a report on Monday, April 11th. Bank of America Corp. restated a “buy” rating on shares of Alamos Gold in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Alamos Gold in a report on Saturday, May 14th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.58.
The firm’s market cap is $2.41 billion. The stock’s 50 day moving average is $8.67 and its 200 day moving average is $6.09.
Alamos Gold (NYSE:AGI) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. The company had revenue of $104.30 million for the quarter, compared to analyst estimates of $113.08 million. During the same quarter last year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 61.5% on a year-over-year basis. On average, analysts expect that Alamos Gold Inc. will post $0.02 EPS for the current fiscal year.
Several large investors recently added to or reduced their stakes in AGI. Royce & Associates LLC increased its stake in Alamos Gold by 77.2% in the fourth quarter. Royce & Associates LLC now owns 1,273,544 shares of the company’s stock valued at $4,188,000 after buying an additional 555,000 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in 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 boosted its stake in 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. boosted its stake in 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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