Alamos Gold (NYSE:AGI) Raised to Sector Outperform at Scotiabank

Alamos Gold (NYSE:AGIGet Rating) (TSE:AGI) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Tuesday, The Fly reports. The brokerage presently has a $11.00 price target on the basic materials company’s stock, up from their prior price target of $10.00. Scotiabank’s price target indicates a potential upside of 16.53% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Alamos Gold from a “b-” rating to a “c+” rating in a report on Thursday, September 15th. National Bank Financial upped their price objective on shares of Alamos Gold from C$12.50 to C$13.00 in a report on Thursday, October 13th. Finally, StockNews.com started coverage on shares of Alamos Gold in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.61.

Alamos Gold Trading Up 4.9 %

Shares of AGI opened at $9.44 on Tuesday. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 118.01, a PEG ratio of 4.14 and a beta of 1.02. Alamos Gold has a 1-year low of $6.35 and a 1-year high of $9.45. The company’s fifty day simple moving average is $7.81 and its 200 day simple moving average is $7.58.

Alamos Gold (NYSE:AGIGet Rating) (TSE:AGI) last issued its earnings results on Thursday, October 27th. The basic materials company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $213.60 million for the quarter, compared to the consensus estimate of $210.80 million. Alamos Gold had a net margin of 3.28% and a return on equity of 4.13%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, research analysts forecast that Alamos Gold will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently modified their holdings of AGI. Millennium Management LLC lifted its position in Alamos Gold by 113.3% during the second quarter. Millennium Management LLC now owns 9,450,405 shares of the basic materials company’s stock worth $66,342,000 after purchasing an additional 5,019,569 shares during the period. Van ECK Associates Corp lifted its position in Alamos Gold by 7.7% during the first quarter. Van ECK Associates Corp now owns 41,519,766 shares of the basic materials company’s stock worth $349,593,000 after purchasing an additional 2,979,481 shares during the period. Empyrean Capital Partners LP bought a new stake in Alamos Gold during the first quarter worth about $12,716,000. FMR LLC lifted its position in Alamos Gold by 24.3% during the second quarter. FMR LLC now owns 4,411,128 shares of the basic materials company’s stock worth $30,945,000 after purchasing an additional 863,013 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its position in Alamos Gold by 46.8% during the third quarter. Segall Bryant & Hamill LLC now owns 2,564,664 shares of the basic materials company’s stock worth $19,006,000 after purchasing an additional 817,974 shares during the period. 50.89% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Company Profile

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Alamos gold holding oorperatief u.a. operates as a subsidiary of Alamos Gold Inc

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