Alamos Gold (NYSE:AGI) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a strong sell rating in a report released on Monday,Zacks reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Bank of America lowered their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Jefferies Financial Group lowered their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Stock Performance

NYSE:AGI opened at $32.78 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $13.72 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.44 and a beta of 0.59. The company has a fifty day moving average of $34.29 and a 200-day moving average of $36.83. Alamos Gold has a twelve month low of $27.05 and a twelve month high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The firm had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alamos Gold will post 2.11 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a $0.04 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is 5.78%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently made changes to their positions in the business. Petra Financial Advisors Inc. lifted its stake in shares of Alamos Gold by 2.3% in the 1st quarter. Petra Financial Advisors Inc. now owns 23,153 shares of the basic materials company’s stock worth $1,029,000 after purchasing an additional 518 shares during the period. Parvin Asset Management LLC raised its stake in Alamos Gold by 1.8% during the 1st quarter. Parvin Asset Management LLC now owns 35,390 shares of the basic materials company’s stock worth $1,572,000 after acquiring an additional 625 shares during the period. XML Financial LLC raised its position in shares of Alamos Gold by 10.8% during the 2nd quarter. XML Financial LLC now owns 7,200 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 700 shares during the period. Kestra Advisory Services LLC raised its holdings in Alamos Gold by 16.5% during the first quarter. Kestra Advisory Services LLC now owns 5,143 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 728 shares during the period. Finally, Parallel Advisors LLC purchased a new position in Alamos Gold in the 1st quarter worth approximately $35,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company’s activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold’s principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.