Zacks Investment Research cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. “

AGI has been the subject of a number of other research reports. TheStreet raised shares of Alamos Gold from a d+ rating to a c- rating in a research note on Wednesday, June 6th. ValuEngine raised shares of Alamos Gold from a strong sell rating to a sell rating in a research note on Wednesday, August 8th. Finally, Desjardins raised shares of Alamos Gold from a hold rating to a buy rating in a research note on Thursday, June 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Alamos Gold presently has an average rating of Hold and a consensus price target of $8.45.

AGI stock opened at $4.54 on Tuesday. Alamos Gold has a one year low of $4.21 and a one year high of $8.58. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 1.12 and a beta of 0.17.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Alamos Gold had a return on equity of 1.70% and a net margin of 2.50%. The company had revenue of $169.00 million during the quarter, compared to analysts’ expectations of $164.28 million. During the same period in the prior year, the firm earned $0.01 EPS. Alamos Gold’s quarterly revenue was up 29.0% on a year-over-year basis. sell-side analysts expect that Alamos Gold will post 0.11 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in AGI. CIBC Asset Management Inc boosted its stake in shares of Alamos Gold by 125.4% in the 2nd quarter. CIBC Asset Management Inc now owns 9,367,625 shares of the basic materials company’s stock valued at $53,380,000 after purchasing an additional 5,211,004 shares in the last quarter. Formula Growth Ltd. boosted its stake in shares of Alamos Gold by 613.0% in the 2nd quarter. Formula Growth Ltd. now owns 4,991,300 shares of the basic materials company’s stock valued at $28,400,000 after purchasing an additional 4,291,300 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Alamos Gold in the 2nd quarter valued at $12,815,000. Millennium Management LLC boosted its stake in shares of Alamos Gold by 75.6% in the 1st quarter. Millennium Management LLC now owns 3,285,644 shares of the basic materials company’s stock valued at $17,118,000 after purchasing an additional 1,414,679 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Alamos Gold by 24.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,703,279 shares of the basic materials company’s stock valued at $38,141,000 after purchasing an additional 1,324,377 shares in the last quarter. 59.78% of the stock is owned by institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.

Further Reading: Book Value Per Share – BVPS

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