Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $7.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.57% from the company’s previous close.
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. “
A number of other brokerages also recently issued reports on AGI. ValuEngine downgraded Alamos Gold from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Royal Bank Of Canada set a $9.00 price target on Alamos Gold and gave the stock a “hold” rating in a research report on Tuesday, October 10th. BMO Capital Markets reiterated a “buy” rating and set a $11.50 price target (down previously from $14.00) on shares of Alamos Gold in a research report on Friday, November 24th. Finally, BidaskClub upgraded Alamos Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.88.
Shares of Alamos Gold (NYSE:AGI) opened at $6.11 on Tuesday. The company has a market capitalization of $2,388.82, a PE ratio of 102.33 and a beta of 0.46. Alamos Gold has a 1-year low of $5.93 and a 1-year high of $9.00.
A number of hedge funds have recently modified their holdings of AGI. SG Americas Securities LLC purchased a new position in shares of Alamos Gold in the second quarter valued at approximately $106,000. Empirical Finance LLC purchased a new position in shares of Alamos Gold in the third quarter valued at approximately $138,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Alamos Gold by 3.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,070 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 717 shares in the last quarter. Oxbow Advisors LLC lifted its position in shares of Alamos Gold by 80.2% in the third quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 11,605 shares in the last quarter. Finally, Fore Research & Management LP purchased a new position in shares of Alamos Gold in the second quarter valued at approximately $215,000. Institutional investors own 63.00% of the company’s stock.
Alamos Gold Company Profile
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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