Zacks Investment Research downgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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. “
Other equities analysts have also recently issued research reports about the company. Scotiabank lowered their target price on Alamos Gold from $11.00 to $9.00 and set a sector perform rating for the company in a report on Monday, December 18th. BMO Capital Markets reiterated a buy rating and set a $11.50 target price (down previously from $14.00) on shares of Alamos Gold in a report on Friday, November 24th. Desjardins reiterated a hold rating on shares of Alamos Gold in a report on Monday, December 11th. Royal Bank of Canada set a $9.00 target price on Alamos Gold and gave the stock a hold rating in a report on Tuesday, October 10th. Finally, ValuEngine cut Alamos Gold from a hold rating to a sell rating in a report on Monday, September 11th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Alamos Gold has a consensus rating of Hold and a consensus price target of $9.70.
Several hedge funds and other institutional investors have recently made changes to their positions in AGI. SG Americas Securities LLC bought a new position in shares of Alamos Gold in the 2nd quarter valued at about $106,000. Empirical Finance LLC bought a new position in shares of Alamos Gold in the 3rd quarter valued at about $138,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Alamos Gold by 3.7% in 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 acquiring an additional 717 shares in the last quarter. Oxbow Advisors LLC grew its holdings in shares of Alamos Gold by 80.2% in the 3rd quarter. Oxbow Advisors LLC now owns 26,072 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 11,605 shares in the last quarter. Finally, Fore Research & Management LP bought a new position in shares of Alamos Gold in the 2nd quarter valued at about $215,000. Institutional investors own 63.00% of the company’s stock.
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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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