Zacks Investment Research upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $7.00 price objective on the basic materials company’s stock.
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 research analysts have also issued research reports about the company. BMO Capital Markets reiterated a buy rating and issued a $11.50 target price (down previously from $14.00) on shares of Alamos Gold in a research note on Friday, November 24th. ValuEngine upgraded Alamos Gold from a sell rating to a hold rating in a research note on Thursday, August 24th. BidaskClub upgraded Alamos Gold from a sell rating to a hold rating in a research note on Saturday, August 12th. Finally, Royal Bank Of Canada set a $9.00 price objective on Alamos Gold and gave the company a hold rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Alamos Gold presently has a consensus rating of Hold and an average price target of $9.88.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in Alamos Gold by 50.6% during the 2nd quarter. Franklin Resources Inc. now owns 38,805,105 shares of the basic materials company’s stock valued at $277,916,000 after purchasing an additional 13,039,324 shares in the last quarter. Prudential PLC lifted its holdings in Alamos Gold by 9.7% during the 2nd 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 during the last quarter. Vanguard Group Inc. lifted its holdings in Alamos Gold by 5.7% during the 2nd 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in Alamos Gold by 15.7% during the 2nd 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 during the last quarter. Finally, Fiera Capital Corp lifted its holdings in Alamos Gold by 220.7% during the 2nd quarter. Fiera Capital Corp now owns 4,827,103 shares of the basic materials company’s stock worth $34,148,000 after buying an additional 3,321,741 shares during the last quarter. Hedge funds and other 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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