Alamos Gold (NYSE:AGI) Rating Lowered to Hold at StockNews.com

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts also recently commented on AGI. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Alamos Gold in a report on Wednesday, January 3rd. Jefferies Financial Group initiated coverage on shares of Alamos Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Royal Bank of Canada raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $16.00 in a report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.38.

Alamos Gold Price Performance

Shares of NYSE AGI traded up $0.20 during trading on Thursday, hitting $14.75. The stock had a trading volume of 2,707,420 shares, compared to its average volume of 2,483,174. The company has a market capitalization of $5.85 billion, a PE ratio of 27.83, a PEG ratio of 1.35 and a beta of 1.12. The firm has a fifty day moving average of $12.60 and a two-hundred day moving average of $12.79. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $14.95.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $254.60 million during the quarter, compared to analyst estimates of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities analysts expect that Alamos Gold will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AGI. Norges Bank bought a new stake in Alamos Gold in the fourth quarter valued at $64,117,000. Triasima Portfolio Management inc. bought a new stake in Alamos Gold in the fourth quarter valued at $31,471,000. Two Sigma Advisers LP boosted its holdings in Alamos Gold by 278.1% in the first quarter. Two Sigma Advisers LP now owns 2,770,364 shares of the basic materials company’s stock valued at $33,882,000 after acquiring an additional 2,037,700 shares in the last quarter. Ninety One UK Ltd bought a new stake in Alamos Gold in the third quarter valued at $18,405,000. Finally, Balyasny Asset Management L.P. purchased a new position in Alamos Gold during the fourth quarter valued at $17,477,000. Institutional investors own 64.33% of the company’s stock.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.