Alamos Gold (NYSE:AGI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a report released on Sunday morning.

A number of other research firms also recently issued reports on AGI. Bank of America decreased their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada cut their price objective on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings downgraded Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Stock Up 0.3%

Shares of NYSE AGI opened at $28.77 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04. Alamos Gold has a 12 month low of $25.21 and a 12 month high of $55.41. The firm has a market capitalization of $12.04 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.37 and a beta of 0.56. The firm has a fifty day simple moving average of $32.42 and a two-hundred day simple moving average of $40.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. Equities analysts expect that Alamos Gold will post 2.18 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s payout ratio is presently 5.78%.

Institutional Trading of Alamos Gold

A number of hedge funds have recently bought and sold shares of AGI. Goldman Sachs Group Inc. boosted its position in Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after purchasing an additional 1,227,695 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Alamos Gold in the 1st quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alamos Gold by 129.2% in the 1st 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. Qube Research & Technologies Ltd boosted its holdings in shares of Alamos Gold by 375.1% in the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock worth $26,042,000 after buying an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after buying an additional 26,045 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.