Alamos Gold (NYSE:AGI) Rating Increased to Strong-Buy at Wall Street Zen

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report issued on Saturday.

AGI has been the topic of a number of other reports. Scotiabank boosted their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Desjardins began coverage on Alamos Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Zacks Research lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $47.95 on Friday. Alamos Gold has a 52 week low of $22.03 and a 52 week high of $48.07. The company has a current ratio of 2.00, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.13 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 0.43 and a beta of 0.61. The company’s 50-day moving average price is $41.09 and its two-hundred day moving average price is $35.35.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The business’s revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, sell-side analysts anticipate that Alamos Gold will post 1.29 EPS for the current fiscal year.

Institutional Trading of Alamos Gold

Several large investors have recently made changes to their positions in AGI. Y Intercept Hong Kong Ltd bought a new position in Alamos Gold in the 2nd quarter worth approximately $1,502,000. PCJ Investment Counsel Ltd. grew its position in Alamos Gold by 37.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock worth $2,282,000 after purchasing an additional 23,560 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Alamos Gold by 3.8% during the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock worth $22,928,000 after purchasing an additional 24,330 shares during the period. Caldwell Investment Management Ltd. increased its stake in Alamos Gold by 143.5% during the third quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock valued at $5,818,000 after acquiring an additional 99,000 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Alamos Gold by 29.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock valued at $51,192,000 after acquiring an additional 336,200 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.