Alamos Gold (AGI) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $7.00 target price on the basic materials company’s stock.

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. ValuEngine lowered Alamos Gold from a hold rating to a sell rating in a report on Monday, September 11th. Royal Bank Of Canada set a $9.00 price target on Alamos Gold and gave the company a hold rating in a report on Tuesday, October 10th. BMO Capital Markets reiterated a buy rating and issued a $11.50 price target (down previously from $14.00) on shares of Alamos Gold in a report on Friday, November 24th. Finally, BidaskClub upgraded Alamos Gold from a sell rating to a hold rating in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $9.88.

Shares of Alamos Gold (AGI) traded down $0.06 during midday trading on Tuesday, hitting $6.08. The company had a trading volume of 2,555,800 shares, compared to its average volume of 2,682,287. The stock has a market capitalization of $2,388.82, a price-to-earnings ratio of 102.33 and a beta of 0.46. Alamos Gold has a 12-month low of $5.93 and a 12-month high of $9.00.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Alamos Gold during the second quarter worth $106,000. Empirical Finance LLC purchased a new stake in Alamos Gold during the third quarter worth $138,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Alamos Gold by 3.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 20,070 shares of the basic materials company’s stock worth $144,000 after buying an additional 717 shares during the period. Oxbow Advisors LLC lifted its holdings in Alamos Gold by 80.2% during the third quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock worth $176,000 after buying an additional 11,605 shares during the period. Finally, Fore Research & Management LP purchased a new stake in Alamos Gold during the second quarter worth $215,000. Institutional investors own 63.00% of the company’s stock.

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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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