Royal Bank of Canada Boosts Alamos Gold (NYSE:AGI) Price Target to $18.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective hoisted by Royal Bank of Canada from $16.00 to $18.00 in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

AGI has been the subject of several other reports. Bank of America raised shares of Alamos Gold from a neutral rating to a buy rating and increased their price objective for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. National Bank Financial reaffirmed an outperform overweight rating on shares of Alamos Gold in a research report on Monday, April 8th. StockNews.com raised shares of Alamos Gold from a hold rating to a buy rating in a research report on Sunday, April 14th. Finally, Jefferies Financial Group raised their price target on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a buy rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $18.15.

Alamos Gold Stock Up 2.5 %

Shares of Alamos Gold stock opened at $15.13 on Tuesday. The firm has a market capitalization of $6.02 billion, a P/E ratio of 28.55, a PEG ratio of 3.89 and a beta of 1.15. The company has a 50 day moving average price of $13.58 and a 200 day moving average price of $13.20. Alamos Gold has a 52 week low of $10.78 and a 52 week high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $254.60 million during the quarter, compared to analyst estimates of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. Alamos Gold’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. As a group, research analysts anticipate that Alamos Gold will post 0.64 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is 18.87%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in shares of Alamos Gold during the 4th quarter valued at approximately $27,000. AJOVista LLC acquired a new stake in Alamos Gold in the 4th quarter valued at $83,000. Venturi Wealth Management LLC grew its stake in Alamos Gold by 20.7% in the 1st quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 1,200 shares during the period. Fifth Third Bancorp acquired a new stake in Alamos Gold in the 4th quarter valued at $96,000. Finally, St. Johns Investment Management Company LLC acquired a new stake in Alamos Gold in the 1st quarter valued at $115,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.