Alamos Gold (NYSE:AGI) PT Raised to $28.00 at Jefferies Financial Group

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective raised by equities researchers at Jefferies Financial Group from $23.00 to $28.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 42.93% from the company’s current price.

Several other equities analysts have also commented on the stock. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Royal Bank of Canada increased their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank boosted their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Trading Down 0.6 %

Shares of AGI stock opened at $19.59 on Friday. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. Alamos Gold has a 12-month low of $10.91 and a 12-month high of $21.42. The stock’s 50-day moving average price is $19.05 and its 200-day moving average price is $16.92.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The company’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, research analysts predict that Alamos Gold will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp lifted its stake in shares of Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after purchasing an additional 4,009,220 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Alamos Gold by 311.9% in the second quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock worth $42,480,000 after purchasing an additional 2,051,935 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Alamos Gold by 396.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock worth $19,215,000 after buying an additional 1,139,404 shares during the period. Institutional investors own 64.33% of the company’s stock.

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.