Alamos Gold (NYSE:AGI) Stock Rating Upgraded by StockNews.com

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

AGI has been the topic of a number of other research reports. Royal Bank of Canada raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $12.00 to $16.00 in a report on Thursday, January 11th. National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Jefferies Financial Group initiated coverage on Alamos Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

Alamos Gold Stock Performance

Shares of NYSE:AGI opened at $15.21 on Friday. The company has a market capitalization of $6.05 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 1.15. The company’s 50-day moving average is $13.18 and its 200 day moving average is $13.00. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $254.60 million for the quarter, compared to the consensus estimate of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts predict that Alamos Gold will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Alamos Gold in the fourth quarter worth $64,117,000. Triasima Portfolio Management inc. purchased a new position in Alamos Gold during the 4th quarter valued at about $31,471,000. Two Sigma Advisers LP boosted its stake in Alamos Gold by 278.1% during the first quarter. Two Sigma Advisers LP now owns 2,770,364 shares of the basic materials company’s stock worth $33,882,000 after acquiring an additional 2,037,700 shares in the last quarter. Ninety One UK Ltd grew its holdings in Alamos Gold by 84.9% in the fourth quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after purchasing an additional 1,378,456 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Alamos Gold during the fourth quarter valued at approximately $17,477,000. 64.33% of the stock is owned by institutional investors.

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.