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

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective upped by equities researchers at Royal Bank of Canada from $16.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.50% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.75 to $27.25 in a research note 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 upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note 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 company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.15.

Alamos Gold Trading Up 0.4 %

Shares of NYSE AGI opened at $15.19 on Tuesday. The firm has a market capitalization of $6.04 billion, a PE ratio of 28.66, a PEG ratio of 3.68 and a beta of 1.15. Alamos Gold has a one year low of $10.78 and a one year high of $16.01. The business has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $13.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The company had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. During the same quarter in the prior year, the company posted $0.12 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that Alamos Gold will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Alamos Gold by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock worth $194,224,000 after purchasing an additional 216,280 shares during the period. Norges Bank bought a new position in Alamos Gold in the 4th quarter worth approximately $64,117,000. Invesco Ltd. lifted its holdings in shares of Alamos Gold by 4.9% during the third quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock worth $42,502,000 after buying an additional 175,117 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Alamos Gold by 14.7% in the third quarter. American Century Companies Inc. now owns 3,339,827 shares of the basic materials company’s stock valued at $37,685,000 after acquiring an additional 428,780 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Alamos Gold by 9.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company’s stock worth $40,525,000 after acquiring an additional 258,688 shares during the last quarter. 64.33% of the stock is currently owned by 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.