Scotiabank Trims Alamos Gold Inc (US) (AGI) Target Price to $9.00

Alamos Gold Inc (US) (NYSE:AGI) (TSE:AGI) had its target price reduced by research analysts at Scotiabank from $11.00 to $9.00 in a research report issued on Monday, December 18th. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target indicates a potential upside of 52.80% from the company’s previous close.

A number of other analysts also recently commented on the company. ValuEngine upgraded Alamos Gold Inc (US) from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Royal Bank of Canada set a $9.00 price objective on Alamos Gold Inc (US) and gave the company a “hold” rating in a research report on Tuesday, October 10th. BMO Capital Markets restated a “buy” rating and issued a $11.50 price objective (down from $14.00) on shares of Alamos Gold Inc (US) in a research report on Friday, November 24th. Zacks Investment Research upgraded Alamos Gold Inc (US) from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Tuesday, December 5th. Finally, Desjardins reiterated a “hold” rating on shares of Alamos Gold Inc (US) in a research report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.70.

Alamos Gold Inc (NYSE:AGI) traded down $0.44 during trading hours on Monday, hitting $5.89. The stock had a trading volume of 6,624,296 shares, compared to its average volume of 2,792,850. Alamos Gold Inc has a 1-year low of $5.84 and a 1-year high of $9.00. The firm has a market capitalization of $2,460.00 and a price-to-earnings ratio of 294.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Alamos Gold Inc (US) during the second quarter valued at $106,000. Empirical Finance LLC bought a new position in Alamos Gold Inc (US) during the third quarter valued at about $138,000. Raymond James Financial Services Advisors Inc. raised its holdings in Alamos Gold Inc (US) 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 valued at $144,000 after buying an additional 717 shares in the last quarter. Oxbow Advisors LLC raised its holdings in Alamos Gold Inc (US) by 80.2% during the third quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock valued at $176,000 after buying an additional 11,605 shares in the last quarter. Finally, Fore Research & Management LP bought a new position in Alamos Gold Inc (US) during the second quarter valued at about $215,000. Hedge funds and other institutional investors own 63.00% of the company’s stock.

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About Alamos Gold Inc (US)

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.

Analyst Recommendations for Alamos Gold Inc (US) (NYSE:AGI)

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