Alamos Gold Inc (US) (NYSE:AGI) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Alamos Gold Inc (US) (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a report published on Tuesday, January 2nd.

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 equities research analysts have also recently issued reports on AGI. ValuEngine cut shares of Alamos Gold Inc (US) 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 objective on shares of Alamos Gold Inc (US) and gave the company a hold rating in a research report on Tuesday, October 10th. Scotiabank lowered their price objective on shares of Alamos Gold Inc (US) from $11.00 to $9.00 and set a sector perform rating for the company in a research report on Monday, December 18th. Desjardins reissued a hold rating on shares of Alamos Gold Inc (US) in a research report on Monday, December 11th. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $11.50 price target (down previously from $14.00) on shares of Alamos Gold Inc (US) in a research report on Friday, November 24th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $9.70.

Shares of Alamos Gold Inc (NYSE:AGI) opened at $5.89 on Tuesday. Alamos Gold Inc has a fifty-two week low of $5.84 and a fifty-two week high of $9.00. The stock has a market cap of $2,290.00 and a price-to-earnings ratio of 294.50.

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Alamos Gold Inc (US) by 50.6% during the second quarter. Franklin Resources Inc. now owns 38,805,105 shares of the basic materials company’s stock worth $277,916,000 after buying an additional 13,039,324 shares in the last quarter. Prudential PLC boosted its holdings in Alamos Gold Inc (US) by 9.7% during the second quarter. Prudential PLC now owns 11,897,191 shares of the basic materials company’s stock worth $85,422,000 after buying an additional 1,054,961 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alamos Gold Inc (US) by 5.7% during the second quarter. Vanguard Group Inc. now owns 6,076,445 shares of the basic materials company’s stock worth $43,628,000 after buying an additional 327,326 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alamos Gold Inc (US) by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 5,349,821 shares of the basic materials company’s stock worth $38,411,000 after buying an additional 727,055 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in Alamos Gold Inc (US) by 220.7% during the second quarter. Fiera Capital Corp now owns 4,827,103 shares of the basic materials company’s stock valued at $34,148,000 after purchasing an additional 3,321,741 shares in the last quarter. Hedge funds and other institutional investors own 63.00% of the company’s stock.

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Alamos Gold Inc (US) 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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