Bank of America Reinstates Alamos Gold Inc (USA) to Buy

Brokerage firm Bank of America Reinstates its rating on Alamos Gold Inc (USA)(NYSE:AGI). The shares have been rated Buy. The rating by Bank of America was issued on Jul 12, 2016.

In a different note, On Jun 30, 2016, Credit Suisse said it Reinstates its rating on Alamos Gold Inc (USA). The shares have been rated ‘Outperform’ by the firm. On Jun 27, 2016, Raymond James said it Upgrades its rating on Alamos Gold Inc (USA). The shares have been rated ‘Outperform’ by the firm. On May 3, 2016, Canaccord Genuity said it Downgrades its rating on Alamos Gold Inc (USA). The shares have been rated ‘Hold’ by the firm. On Apr 20, 2016, Raymond James said it Downgrades its rating on Alamos Gold Inc (USA). The shares have been rated ‘Market Perform’ by the firm.

Alamos Gold Inc (USA) (AGI) shares turned negative on Fridays trading session with the shares closing down -0.14 points or -1.45% at a volume of 15,60,057. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.755. The peak price level was also seen at $9.755 while the days lowest was $9.46. Finally the shares closed at $9.53. The 52-week high of the shares is $10.41 while the 52-week low is $2.27. According to the latest information available, the market cap of the company is $2,524 M.

Alamos Gold Inc (USA)(AGI) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $104.30M. Analysts had an estimated revenue of $113.08M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.03.

Alamos Gold Inc. is a Canada-based mid-tier gold producer. The Company is engaged in the acquisition exploration development and extraction of precious metals. It is engaged in the exploration and development activities in Mexico Turkey and the United States. It owns and operates the Mulatos mine in Mexico and holds the mineral rights to the Salamandra group of concessions in the State of Sonora Mexico which includes several satellite gold occurrences. It also owns the Agi Dagi Kirazli and Camyurt gold development projects in Turkey. Agi Dagi and Kirazli gold development projects are located in Canakkale Province Turkey. The Camyurt project is located three kilometres southeast of the Agi Dagi project. The Company owns the Esperanza Gold Project which is a development stage asset located in south-central Mexico in the state of Morelos. It owns a 100% interest in the Quartz Mountain Property which is located in south-central Oregon. It operates through Carlisle Goldfields Ltd.

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