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

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target hoisted by equities research analysts at Jefferies Financial Group from $21.00 to $23.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price target points to a potential upside of 11.16% from the stock’s current price.

Several other brokerages also recently issued reports on AGI. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Royal Bank of Canada raised their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their target price on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.81.

Alamos Gold Trading Up 3.1 %

Shares of NYSE AGI opened at $20.69 on Friday. Alamos Gold has a 12-month low of $10.78 and a 12-month high of $20.90. The company has a market cap of $8.69 billion, a P/E ratio of 39.79, a P/E/G ratio of 0.82 and a beta of 1.18. The stock has a fifty day moving average price of $18.08 and a 200 day moving average price of $16.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) 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 firm had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, sell-side analysts forecast that Alamos Gold will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its stake in Alamos Gold by 11.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 127,364 shares of the basic materials company’s stock worth $1,997,000 after purchasing an additional 13,450 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Alamos Gold in the second quarter worth about $1,967,000. Lloyd Harbor Capital Management LLC grew its stake in Alamos Gold by 3.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 590,000 shares of the basic materials company’s stock worth $9,251,000 after purchasing an additional 20,000 shares in the last quarter. Mackenzie Financial Corp grew its stake in Alamos Gold by 147.6% in 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. Finally, The Manufacturers Life Insurance Company grew its stake in Alamos Gold by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,027,515 shares of the basic materials company’s stock worth $31,758,000 after purchasing an additional 84,787 shares in the last quarter. 64.33% of the stock is currently 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.