Alamos Gold (NYSE:AGI) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Alamos Gold (NYSE:AGIFree Report) (TSE:AGI) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other equities research analysts have also recently commented on the stock. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 23rd. Desjardins initiated coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Bank of America raised their price objective on Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Jefferies Financial Group restated a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a research note on Sunday, December 7th. Finally, Zacks Research lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alamos Gold has a consensus rating of “Buy” and a consensus price target of $43.00.

View Our Latest Analysis on AGI

Alamos Gold Trading Down 3.3%

Shares of NYSE AGI opened at $38.95 on Friday. Alamos Gold has a 1-year low of $19.07 and a 1-year high of $43.87. The business has a fifty day moving average price of $37.52 and a 200 day moving average price of $32.57. The stock has a market capitalization of $16.35 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 0.36 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33.

Alamos Gold (NYSE:AGIGet Free Report) (TSE:AGI) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Equities research analysts expect that Alamos Gold will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is currently 7.81%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Alamos Gold by 35.3% during the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock worth $1,587,666,000 after purchasing an additional 11,876,324 shares during the period. Vanguard Group Inc. raised its position in Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock worth $600,712,000 after buying an additional 524,263 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Alamos Gold by 29.3% during the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after acquiring an additional 2,521,347 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Alamos Gold by 6.3% in the 3rd quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock valued at $332,724,000 after acquiring an additional 567,926 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Alamos Gold in the 2nd quarter valued at $144,808,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Alamos Gold

Here are the key news stories impacting Alamos Gold this week:

Alamos Gold Company Profile

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Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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Analyst Recommendations for Alamos Gold (NYSE:AGI)

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