- Alamos Gold (AGI +7.6%) is upgraded to Outperfrom from Market Perform at Raymond James on valuation, but the firm cuts its price target to $6 from $8, which would still imply a near double from current levels.
- After AGI closed its merger with AuRico Gold in early July, the firm believed investors would be better off to stay on the sidelines; AGI has since fallen an "unjustifiable" 46% in two weeks vs. gold at 7%, so the firm believes investors now would benefit in adding to positions as the risk/reward profile has swung in their favor.