Alamos Gold (NYSE:AGI) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective raised by equities research analysts at Royal Bank of Canada from $27.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 22.27% from the stock’s current price.

A number of other equities analysts have also recently weighed in on AGI. StockNews.com cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. National Bank Financial raised shares of Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.81.

Alamos Gold Price Performance

AGI stock opened at $24.54 on Friday. The firm has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $20.95. The stock has a market cap of $10.32 billion, a PE ratio of 35.56, a P/E/G ratio of 0.40 and a beta of 1.15. Alamos Gold has a one year low of $14.31 and a one year high of $27.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The company had revenue of $375.80 million during the quarter, compared to analyst estimates of $388.06 million. On average, analysts predict that Alamos Gold will post 1.29 EPS for the current fiscal year.

Institutional Trading of Alamos Gold

Institutional investors have recently made changes to their positions in the stock. Old West Investment Management LLC increased its stake in shares of Alamos Gold by 11.0% in the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock worth $9,689,000 after buying an additional 48,128 shares during the period. CIBC Asset Management Inc increased its position in shares of Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after acquiring an additional 2,867,027 shares during the period. Canoe Financial LP purchased a new position in shares of Alamos Gold in the fourth quarter valued at about $4,066,000. National Bank of Canada FI raised its stake in shares of Alamos Gold by 18.4% during the third quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock valued at $30,492,000 after acquiring an additional 237,278 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Alamos Gold by 11.1% during the third quarter. Geode Capital Management LLC now owns 299,612 shares of the basic materials company’s stock worth $6,224,000 after purchasing an additional 29,933 shares during the period. Hedge funds and other 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.