Alamos Gold (NYSE:AGI) PT Raised to $23.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target upped by Royal Bank of Canada from $20.00 to $23.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 25.14% from the stock’s current price.

AGI has been the topic of several other research reports. Scotiabank lifted their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price on shares of Alamos Gold from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 12th. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Finally, National Bank Financial cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.31.

Alamos Gold Trading Up 1.2 %

AGI stock traded up $0.22 during midday trading on Tuesday, reaching $18.38. The stock had a trading volume of 538,364 shares, compared to its average volume of 2,277,614. Alamos Gold has a 52-week low of $10.78 and a 52-week high of $20.24. The company’s fifty day simple moving average is $17.80 and its 200 day simple moving average is $15.97. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. Alamos Gold’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. Sell-side analysts predict that Alamos Gold will post 0.75 EPS for the current year.

Institutional Trading of Alamos Gold

Several hedge funds have recently made changes to their positions in AGI. Baldwin Brothers LLC MA acquired a new stake in Alamos Gold during the 2nd quarter worth approximately $47,000. Daiwa Securities Group Inc. acquired a new position in Alamos Gold during the 2nd quarter worth $48,000. Employees Retirement System of Texas purchased a new stake in Alamos Gold during the 2nd quarter worth about $88,000. St. Johns Investment Management Company LLC acquired a new stake in Alamos Gold in the 1st quarter valued at about $115,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Alamos Gold in the 1st quarter valued at about $203,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.