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Will the Anointed Experts Get It Wrong Again?

The emergence of the new Omicron coronavirus strain is roiling financial and precious metals markets. Investors fear government health officials will order…

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The emergence of the new Omicron coronavirus strain is roiling financial and precious metals markets. Investors fear government health officials will order new lockdowns to try to contain it.

Never mind that previous lockdowns don’t appear to have worked. Some of the most draconian were imposed by Michigan governor Gretchen Whitmer. Her state now records the nation’s highest seven-day rate of infections.

Are Lockdowns Coming?

The so-called experts who craft official guidance, such as Dr. Anthony Fauci, have been wrong at every turn.

The list of things they have gotten wrong about COVID-19 would be too extensive to document here. But their credibility on everything from the origins of the virus to the effectiveness of masks, social distancing, and vaccines has been shot.

All the while, the virus seems to defy all attempts to predict its upturns, downturns, and breakout variants.

Back in the summer of 2020, when public health authorities were ordering churches and schools closed, and weddings and funeral services cancelled, they inexplicably endorsed mass civil unrest by Black Lives Matter protestors.

The extent to which the riots helped spread the virus is unknown, but they helped unleash a record-breaking surge in violent crime that is still ongoing.

Now the experts are worried that a recent wave of organized looting sprees…is being called looting.

According to San Francisco’s ABC7, “Experts caution use of ‘looting’ in describing rash of Bay Area smash and grabs.”

Much of what gets pushed by the mainstream media as expert opinion is not grounded in sound science at all. The good news is that because the bias has become so blatant, more people are seeing through it.

More people are becoming skeptical of official pronouncements – be they from government health bureaucrats or central bankers.

The Federal Reserve has certainly lost credibility on inflation being transitory. The White House has lost credibility on the economy being strong. And Wall Street may lose credibility with investors if artificially high valuations do prove to be transitory.

Markets are inherently unpredictable.

Holding gold and silver bullion is a great antidote to many of the threats currently facing financial markets. However, prudent investors should be skeptical even of experts who tout precious metals. (Including us!)

If you’re stacking gold and silver coins based solely on the price forecast of some guru, then you may be doing the right thing for the wrong reasons.

If the guru changes his forecast, will you suddenly change your investment strategy (perhaps at the exact wrong time)?

While there may be a place in your portfolio for trading and speculation, the purpose of a core precious metals holding is to protect against unpredictable events at all times.

The case for having such a holding is based on the very modest proposition that you don’t know what will happen next – and neither does any expert.

      

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Alamos Gold (NYSE:AGI) PT Lowered to C$13.00 at CIBC

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective trimmed by CIBC from C$14.50 to C$13.00 in a research note released on Wednesday, The Fly reports….

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective trimmed by CIBC from C$14.50 to C$13.00 in a research note released on Wednesday, The Fly reports.

AGI has been the topic of several other reports. Canaccord Genuity Group cut Alamos Gold from a buy rating to a hold rating and set a $10.00 price objective on the stock. in a report on Tuesday. Zacks Investment Research raised Alamos Gold from a hold rating to a buy rating and set a $7.75 price objective on the stock in a report on Monday, January 10th. Citigroup cut Alamos Gold from a buy rating to a hold rating and decreased their price objective for the stock from C$12.00 to C$10.00 in a report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets decreased their price target on Alamos Gold from C$14.00 to C$11.00 in a report on Tuesday. Finally, TD Securities decreased their price target on Alamos Gold from C$15.50 to C$14.50 and set a buy rating on the stock in a report on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alamos Gold presently has an average rating of Hold and a consensus target price of $11.39.

Shares of AGI opened at $7.03 on Wednesday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -117.15, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05. Alamos Gold has a 1 year low of $6.62 and a 1 year high of $9.38. The business’s 50 day simple moving average is $7.49 and its 200-day simple moving average is $7.66.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Tuesday, October 26th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $198.00 million for the quarter, compared to analysts’ expectations of $221.49 million. Alamos Gold had a positive return on equity of 6.57% and a negative net margin of 2.28%. The firm’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. As a group, analysts expect that Alamos Gold will post 0.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 21st. Shareholders of record on Tuesday, December 7th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, December 6th. This represents a $0.10 dividend on an annualized basis and a yield of 1.42%. Alamos Gold’s payout ratio is -166.64%.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Alamos Gold by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,060,519 shares of the basic materials company’s stock worth $92,263,000 after purchasing an additional 205,663 shares during the period. Bank of New York Mellon Corp boosted its position in Alamos Gold by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 10,086,242 shares of the basic materials company’s stock valued at $77,160,000 after purchasing an additional 1,089,928 shares in the last quarter. FMR LLC boosted its position in Alamos Gold by 2.1% during the first quarter. FMR LLC now owns 5,226,012 shares of the basic materials company’s stock valued at $26,515,000 after purchasing an additional 106,099 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Alamos Gold by 16.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,513,946 shares of the basic materials company’s stock valued at $26,840,000 after purchasing an additional 505,075 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Alamos Gold by 0.3% during the third quarter. Invesco Ltd. now owns 3,331,999 shares of the basic materials company’s stock valued at $23,991,000 after purchasing an additional 8,425 shares in the last quarter. Institutional investors and hedge funds own 51.26% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold, Inc engages in the exploration, development, mining and extraction of precious metals. It operates through the following segments: Young-Davidson, Mulatos, Island Gold, Elchanate, Kirazli and Corporate and Other. The company was founded on February 21, 2003 and is headquartered in Toronto, Canada.

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Royal Bank of Canada Reiterates “C$8.00” Price Target for Alamos Gold (TSE:AGI)

Royal Bank of Canada set a C$8.00 price objective on Alamos Gold (TSE:AGI) (NYSE:AGI) in a research report released on Wednesday morning, BayStreet.CA…

Royal Bank of Canada set a C$8.00 price objective on Alamos Gold (TSE:AGI) (NYSE:AGI) in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other research analysts also recently weighed in on the stock. National Bank Financial reduced their price target on shares of Alamos Gold to C$11.50 and set a sector perform rating for the company in a research report on Friday, October 29th. National Bankshares reduced their price target on shares of Alamos Gold from C$12.00 to C$11.50 and set a sector perform rating for the company in a research report on Friday, October 29th. Canaccord Genuity Group downgraded shares of Alamos Gold to a hold rating and set a C$10.00 price target for the company. in a research report on Tuesday. BMO Capital Markets dropped their price objective on shares of Alamos Gold from C$14.00 to C$11.00 in a research note on Wednesday. Finally, CIBC dropped their price objective on shares of Alamos Gold to C$14.50 and set an outperform rating for the company in a research note on Thursday, October 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Alamos Gold presently has a consensus rating of Hold and an average price target of C$11.71.

AGI opened at C$8.83 on Wednesday. Alamos Gold has a twelve month low of C$8.30 and a twelve month high of C$11.33. The company has a quick ratio of 1.87, a current ratio of 3.35 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of C$9.51 and a 200 day moving average price of C$9.62. The company has a market cap of C$3.46 billion and a PE ratio of -142.42.

Alamos Gold (TSE:AGI) (NYSE:AGI) last released its quarterly earnings results on Wednesday, October 27th. The company reported C$0.13 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.01). The company had revenue of C$249.32 million for the quarter, compared to analysts’ expectations of C$282.06 million. As a group, sell-side analysts expect that Alamos Gold will post 0.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 21st. Stockholders of record on Tuesday, December 7th were paid a $0.031 dividend. The ex-dividend date was Monday, December 6th. This represents a $0.12 annualized dividend and a dividend yield of 1.40%. Alamos Gold’s dividend payout ratio (DPR) is -153.23%.

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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Raymond James Brokers Cut Earnings Estimates for Barrick Gold Co. (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James lowered their Q3 2022 EPS estimates for shares of Barrick Gold in a report issued…

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James lowered their Q3 2022 EPS estimates for shares of Barrick Gold in a report issued on Wednesday, January 19th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.29 for the quarter, down from their prior estimate of $0.30. Raymond James currently has a “Buy” rating and a $33.00 target price on the stock. Raymond James also issued estimates for Barrick Gold’s Q4 2022 earnings at $0.28 EPS.

A number of other equities research analysts also recently weighed in on the stock. National Bank Financial raised their target price on shares of Barrick Gold to C$30.00 and gave the company a “sector perform” rating in a research note on Friday. decreased their price target on shares of Barrick Gold from C$32.00 to C$31.00 in a research note on Wednesday, November 17th. KeyCorp began coverage on shares of Barrick Gold in a research note on Friday, September 24th. They set a “hold” rating on the stock. UBS Group reissued a “buy” rating and set a C$25.00 price target on shares of Barrick Gold in a research note on Friday, October 15th. Finally, National Bankshares lifted their price target on shares of Barrick Gold from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$31.92.

Shares of ABX opened at C$24.32 on Friday. The firm’s 50 day simple moving average is C$23.99 and its 200 day simple moving average is C$24.52. The company has a market capitalization of C$43.27 billion and a P/E ratio of 17.13. The company has a debt-to-equity ratio of 16.06, a current ratio of 4.05 and a quick ratio of 2.85. Barrick Gold has a 1-year low of C$22.30 and a 1-year high of C$30.65.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Thursday, November 4th. The basic materials company reported C$0.30 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.29 by C$0.01. The company had revenue of C$3.56 billion during the quarter, compared to analysts’ expectations of C$3.50 billion.

In other news, Senior Officer Mark Francis Hill bought 60,018 shares of the business’s stock in a transaction dated Friday, November 19th. The shares were purchased at an average price of C$25.95 per share, for a total transaction of C$1,557,467.10. Following the completion of the acquisition, the insider now owns 131,570 shares of the company’s stock, valued at C$3,414,241.50.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th were issued a $0.111 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, November 29th. Barrick Gold’s dividend payout ratio is 25.35%.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States.

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