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Alamos Gold (TSE:AGI) Cut to Hold at Canaccord Genuity Group

Alamos Gold (TSE:AGI) (NYSE:AGI) was downgraded by analysts at Canaccord Genuity Group to a “hold” rating in a note issued to investors on Tuesday,…

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This article was originally published by ETF Daily News

Alamos Gold (TSE:AGI) (NYSE:AGI) was downgraded by analysts at Canaccord Genuity Group to a “hold” rating in a note issued to investors on Tuesday, TipRanks reports. They presently have a C$10.00 price objective on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 9.29% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. CIBC reduced their target price on shares of Alamos Gold to C$14.50 and set an “outperform” rating for the company in a report on Thursday, October 28th. National Bank Financial reduced their target price on shares of Alamos Gold to C$11.50 and set a “sector perform” rating for the company in a report on Friday, October 29th. Finally, National Bankshares reduced their target price on shares of Alamos Gold from C$12.00 to C$11.50 and set a “sector perform” rating for the company in a report on Friday, October 29th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Alamos Gold currently has a consensus rating of “Hold” and an average target price of C$11.79.

Shares of AGI stock opened at C$9.15 on Tuesday. Alamos Gold has a 12 month low of C$8.30 and a 12 month high of C$11.33. The stock has a market cap of C$3.59 billion and a P/E ratio of -147.58. The company has a current ratio of 3.35, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of C$9.59 and a two-hundred day simple moving average of C$9.63.

Alamos Gold (TSE:AGI) (NYSE:AGI) last announced its earnings results on Wednesday, October 27th. The company reported C$0.13 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.14 by C($0.01). The business had revenue of C$249.32 million for the quarter, compared to analyst estimates of C$282.06 million. As a group, equities analysts forecast that Alamos Gold will post 0.56 earnings per share for the current year.

About Alamos Gold

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold in North America, Canada, and Mexico. It also explores for silver and precious metals. The company’s flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 5,587 ha located in Northern Ontario, Canada.

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