Royal Bank of Canada Raises Alamos Gold (NYSE:AGI) Price Target to $27.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price raised by research analysts at Royal Bank of Canada from $25.00 to $27.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 18.71% from the stock’s current price.

A number of other brokerages have also commented on AGI. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus target price of $26.06.

Alamos Gold Stock Performance

Shares of AGI stock traded down $0.07 during trading on Tuesday, reaching $22.75. 1,294,112 shares of the company’s stock were exchanged, compared to its average volume of 2,007,812. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $9.56 billion, a PE ratio of 37.96, a PEG ratio of 0.66 and a beta of 1.16. Alamos Gold has a twelve month low of $11.24 and a twelve month high of $23.06. The firm’s fifty day moving average price is $19.64 and its 200-day moving average price is $19.36.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake in Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after purchasing an additional 2,867,027 shares during the period. FMR LLC grew its stake in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after purchasing an additional 2,148,153 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Alamos Gold by 19.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company’s stock worth $110,662,000 after purchasing an additional 891,255 shares during the period. The Manufacturers Life Insurance Company grew its stake in Alamos Gold by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,066,428 shares of the basic materials company’s stock worth $41,205,000 after purchasing an additional 38,913 shares during the period. Finally, Addenda Capital Inc. acquired a new stake in Alamos Gold during the fourth quarter worth approximately $34,869,000. Institutional investors and hedge funds 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.