Bank of America Cuts Alamos Gold (NYSE:AGI) Price Target to $30.50

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price lowered by Bank of America from $31.00 to $30.50 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

A number of other analysts have also commented on AGI. National Bank Financial upgraded shares of Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday, April 6th. Finally, Royal Bank of Canada increased their price target on Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, April 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $27.63.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $28.02 on Tuesday. The company has a 50 day moving average of $24.35 and a 200 day moving average of $21.16. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. Alamos Gold has a twelve month low of $14.31 and a twelve month high of $28.47. The firm has a market cap of $11.78 billion, a P/E ratio of 40.60, a PEG ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The firm had revenue of $375.80 million for the quarter, compared to the consensus estimate of $388.06 million. As a group, research analysts expect that Alamos Gold will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.36%. Alamos Gold’s dividend payout ratio is currently 14.49%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Alamos Gold by 296.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock worth $136,011,000 after acquiring an additional 5,516,186 shares during the period. Norges Bank purchased a new stake in shares of Alamos Gold in the fourth quarter worth $100,694,000. CIBC Asset Management Inc raised its position in shares of Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after purchasing an additional 2,867,027 shares during the period. Addenda Capital Inc. purchased a new position in shares of Alamos Gold during the 4th quarter valued at $34,869,000. Finally, Raymond James Financial Inc. bought a new position in Alamos Gold in the 4th quarter worth $28,950,000. 64.33% of the stock is 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.