Alamos Gold (AGI) Upgraded by Zacks Investment Research to “Buy”
Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $7.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.13% from the company’s current price.
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. “
Several other research firms have also recently commented on AGI. BidaskClub upgraded Alamos Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. ValuEngine upgraded Alamos Gold from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Royal Bank Of Canada set a $9.00 target price on Alamos Gold and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, BMO Capital Markets restated a “buy” rating and issued a $11.50 target price (down from $14.00) on shares of Alamos Gold in a research report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.88.
Alamos Gold (NYSE AGI) traded down $0.06 on Tuesday, reaching $6.08. The company had a trading volume of 2,555,832 shares, compared to its average volume of 2,682,287. Alamos Gold has a 12-month low of $5.93 and a 12-month high of $9.00. The firm has a market cap of $2,390.00 and a PE ratio of 105.33.
Several hedge funds have recently modified their holdings of AGI. SG Americas Securities LLC acquired a new position in shares of Alamos Gold during the 2nd quarter valued at $106,000. Empirical Finance LLC acquired a new position in shares of Alamos Gold during the 3rd quarter valued at $138,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Alamos Gold by 3.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,070 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 717 shares during the period. Oxbow Advisors LLC increased its position in shares of Alamos Gold by 80.2% during the 3rd quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 11,605 shares during the period. Finally, Fore Research & Management LP acquired a new position in shares of Alamos Gold during the 2nd quarter valued at $215,000. Institutional investors own 63.00% of the company’s stock.
About Alamos Gold
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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