Alamos Gold (NYSE:AGI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

AGI has been the topic of a number of other reports. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Bank of America decreased their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group dropped their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a report on Thursday, October 29th. Finally, Weiss Ratings raised shares of Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Stock Up 10.7%

AGI opened at $29.98 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 2.01. The stock’s fifty day moving average is $33.28 and its 200-day moving average is $37.97. Alamos Gold has a one year low of $26.92 and a one year high of $55.41. The company has a market capitalization of $12.55 billion, a PE ratio of 11.94, a P/E/G ratio of 0.43 and a beta of 0.63.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is 6.37%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGI. Mather Group LLC. acquired a new position in Alamos Gold during the third quarter worth $29,000. Parallel Advisors LLC bought a new position in Alamos Gold during the first quarter valued at about $35,000. Versant Capital Management Inc raised its holdings in Alamos Gold by 258.0% during the third quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company’s stock valued at $40,000 after buying an additional 885 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Alamos Gold in the first quarter worth about $59,000. Finally, CoreCap Advisors LLC lifted its position in shares of Alamos Gold by 146.8% in the third quarter. CoreCap Advisors LLC now owns 1,900 shares of the basic materials company’s stock worth $62,000 after buying an additional 1,130 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.