Alamos Gold (NYSE:AGI) Upgraded by StockNews.com to “Strong-Buy”

by · The Markets Daily

Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Several other brokerages have also issued reports on AGI. Scotiabank increased 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 $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. National Bank Financial cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Royal Bank of Canada increased their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.06.

Read Our Latest Analysis on Alamos Gold

Alamos Gold Stock Up 0.2 %

Shares of AGI traded up $0.04 during trading hours on Monday, hitting $19.64. 1,353,145 shares of the company were exchanged, compared to its average volume of 2,353,088. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 0.86 and a beta of 1.18. Alamos Gold has a fifty-two week low of $11.24 and a fifty-two week high of $21.42. The firm’s fifty day moving average is $19.34 and its 200 day moving average is $17.18.

Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. Analysts anticipate that Alamos Gold will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after purchasing an additional 4,009,220 shares during the period. Vanguard Group Inc. lifted its position in shares of Alamos Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock valued at $216,371,000 after acquiring an additional 250,207 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after purchasing an additional 4,521,282 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alamos Gold by 71.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after purchasing an additional 2,756,759 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Alamos Gold by 31.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock worth $68,576,000 after purchasing an additional 1,058,000 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

About Alamos Gold

(Get Free Report)

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.

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