Weakness Seen in Alamos Gold (AGI): Stock Drops 6.4% - Tale of the Tape
Alamos Gold Inc. ( AGI ) saw a big move last session, as the company's shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for AGI, as the stock is now down 26.9% since Jan 13.
This slump shouldn't be too much of a surprise to investors, as this gold mining company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the past two months. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
AGI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the broader Basic Materials industry include ArcelorMittal ( MT ), Alexco Resource Corporation ( AXU ) and United States Steel Corp. ( X ). All these stocks carry a Zacks Rank #1 (Strong Buy).
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