10 Firms Buck Thursday’s Market Bloodbath

8. Alamos Gold Inc. (NYSE:AGI)

Alamos Gold grew its share prices by 5.39 percent on Thursday to finish at $27.97 apiece as investor funds flocked to gold mining companies as their safe haven amid the ongoing trade tensions between the US and China.

On the same day, spot prices of gold finished 0.35 percent higher at $3,187.30 per ounce after jumping to an all-time high of $3,188.45 at the intra-day session.

In earlier news, Bank of America lowered its price target for AGI to $30.50 from $31 previously while assigning the firm a Neutral rating.

Last week, AGI also signed a binding agreement with Q-Gold Resources for the sale of its non-core Quartz Mountain Gold Project in Oregon for $21 million and a 9.9 percent equity interest in Q-Gold.

“The sale of Quartz Mountain is consistent with our strategy of monetizing non-core assets as we develop our portfolio of high-return growth projects including the Phase 3+ Expansion at Island Gold, Lynn Lake, and PDA,” said AGI President and CEO John McCluskey.