Wall Street Zen Downgrades Alamos Gold (NYSE:AGI) to Buy

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also weighed in on AGI. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Scotiabank boosted their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Finally, Desjardins began coverage on Alamos Gold in a report on Friday, November 28th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.50.

Alamos Gold Stock Performance

AGI opened at $54.27 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. Alamos Gold has a 12-month low of $22.03 and a 12-month high of $54.37. The business has a 50 day moving average of $42.45 and a 200-day moving average of $36.30. The stock has a market cap of $22.79 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 0.52 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same quarter in the prior year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. On average, equities research analysts expect that Alamos Gold will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On Alamos Gold

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after acquiring an additional 1,227,695 shares during the period. Empowered Funds LLC acquired a new stake in shares of Alamos Gold during the 1st quarter worth $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock worth $27,111,000 after purchasing an additional 571,536 shares during the period. Bessemer Group Inc. bought a new position in shares of Alamos Gold in the second quarter worth $90,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Alamos Gold in the second quarter valued at about $1,502,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.