- Alamos Gold (AGI -8.5%) suffers several downgrades following Q3 results that were in line with expectations given a strong performance from the heap leach offset by the processing of lower grades.
- RBC Capital is one of at least three downgrades, saying although it continues to believe AGI is one of the best positioned gold equities, it cut its rating to Sector Perform from Outperform given limited upside to its price target of $18.
- TD Securities and Raymond James also cut shares to Buy/Market Perform based on valuation (I, II).
- Canaccord dissents with consensus, upgrading AGI to Buy from Hold and saying the premium is justified in light of the attractive low-cost production growth profile and a cash-rich debt-free balance sheet.
Alamos Gold drops after three downgrades, one upgrade
Nov 1 2013, 11:53 ET