5 Best Canadian Dividend Stocks to Buy for the Next 5 Years

Page 5 of 5

1. Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Holders: 48

On June 22, BofA lowered its price recommendation on Alamos Gold Inc. (NYSE:AGI) to $50 from $57. It reiterated a Buy rating on the stock. The firm updated its model after the company reduced its second-quarter gold production guidance by 12% to 130,000-150,000 ounces. The lower outlook reflects the timing of gold recoveries at La Yaqui Grande and reduced mining rates at the Young-Davidson mine.

Earlier, on June 20, CIBC lowered its price goal on Alamos Gold to C$82 from C$90. It maintained an Outperformer rating. Analyst Cosmos Chiu said the Young-Davidson mine had been affected by two seismic events during the previous week, including one at an active mining area. The firm reduced its production estimates but noted that, while the development is disappointing, Young-Davidson is no longer the primary driver of value for Alamos following the emergence of the Island Gold District.

Alamos Gold Inc. (NYSE:AGI) is a Canadian intermediate gold producer with diversified operations across North America. Its producing assets include the Island Gold District and the Young-Davidson mine in northern Ontario, Canada, as well as the Mulatos District in Sonora State, Mexico.

While we acknowledge the potential of AGI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AGI and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Dividend Stocks With Low Payout Ratios and Strong Upside Potential and 10 Reliable Dividend Stocks to Buy for Long-Term Investors

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 5 of 5
1281292 - 11759070 - 1