Alamos Gold (NYSE:AGI) Downgraded by StockNews.com to “Buy”

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities research analysts have also recently weighed in on AGI. Royal Bank of Canada boosted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. National Bank Financial cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Scotiabank upped their target price on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Alamos Gold presently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Stock Down 1.2 %

Shares of Alamos Gold stock opened at $21.12 on Tuesday. Alamos Gold has a twelve month low of $11.24 and a twelve month high of $21.45. The business has a 50-day moving average price of $19.75 and a 200-day moving average price of $17.45. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities analysts expect that Alamos Gold will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in shares of Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after purchasing an additional 4,009,220 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Alamos Gold by 71.9% during the first 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. CIBC Asset Management Inc grew its holdings in shares of Alamos Gold by 311.9% in the second quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock worth $42,480,000 after purchasing an additional 2,051,935 shares during the last quarter. Finally, Triasima Portfolio Management inc. increased its stake in Alamos Gold by 328.2% in the 2nd quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock worth $21,779,000 after buying an additional 1,064,629 shares during the period. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.