Alamos Gold (NYSE:AGI) PT Raised to $18.00 at Royal Bank of Canada

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price upped by equities researchers at Royal Bank of Canada from $16.00 to $18.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.50% from the company’s previous close.

Several other brokerages also recently commented on AGI. Jefferies Financial Group boosted their target price on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. National Bank Financial reissued an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Sunday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $18.15.

Alamos Gold Trading Up 0.4 %

Shares of Alamos Gold stock opened at $15.19 on Tuesday. The company has a 50 day moving average of $13.66 and a 200-day moving average of $13.21. The company has a market cap of $6.04 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.68 and a beta of 1.15. Alamos Gold has a 1-year low of $10.78 and a 1-year high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The business had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. During the same period in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts forecast that Alamos Gold will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC lifted its position in shares of Alamos Gold by 2.8% in the 3rd quarter. AE Wealth Management LLC now owns 38,692 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 1,049 shares during the period. SG Americas Securities LLC raised its stake in Alamos Gold by 23.4% during the third quarter. SG Americas Securities LLC now owns 45,886 shares of the basic materials company’s stock worth $518,000 after buying an additional 8,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Alamos Gold by 14.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,886 shares of the basic materials company’s stock valued at $631,000 after buying an additional 7,050 shares during the period. Raymond James & Associates boosted its position in Alamos Gold by 2.1% during the third quarter. Raymond James & Associates now owns 271,033 shares of the basic materials company’s stock valued at $3,060,000 after acquiring an additional 5,652 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Alamos Gold by 23.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 68,925 shares of the basic materials company’s stock worth $778,000 after acquiring an additional 12,991 shares during the period. 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.