Alamos Gold (NYSE:AGI) Rating Increased to Buy at StockNews.com

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Sunday.

A number of other analysts have also recently weighed in on AGI. National Bank Financial reissued an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Bank of America upgraded 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 report on Tuesday, April 9th. Jefferies Financial Group assumed coverage on shares of Alamos Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Royal Bank of Canada upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

Alamos Gold Price Performance

Shares of AGI stock opened at $14.99 on Friday. The company has a 50-day moving average of $13.23 and a two-hundred day moving average of $13.03. Alamos Gold has a 1-year low of $10.78 and a 1-year high of $16.01. The firm has a market cap of $5.96 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 3.75 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The company had revenue of $254.60 million during the quarter, compared to the consensus estimate of $257.47 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Alamos Gold will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

Several large investors have recently added to or reduced their stakes in AGI. Norges Bank acquired a new stake in Alamos Gold in the fourth quarter worth $64,117,000. Triasima Portfolio Management inc. acquired a new stake in Alamos Gold in the fourth quarter worth $31,471,000. Two Sigma Advisers LP increased its position in Alamos Gold by 278.1% in the first quarter. Two Sigma Advisers LP now owns 2,770,364 shares of the basic materials company’s stock worth $33,882,000 after buying an additional 2,037,700 shares during the period. Ninety One UK Ltd increased its position in Alamos Gold by 84.9% in the fourth quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after buying an additional 1,378,456 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Alamos Gold in the fourth quarter worth $17,477,000. 64.33% of the stock is owned by institutional investors and hedge funds.

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.