Alamos Gold (NYSE:AGI) Price Target Increased to $18.00 by Analysts at Royal Bank of Canada

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price increased by Royal Bank of Canada from $16.00 to $18.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on AGI. National Bank Financial reissued an outperform overweight rating on shares of Alamos Gold in a report on Monday, April 8th. Bank of America raised shares of Alamos Gold from a neutral rating to a buy rating and raised their price objective for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. StockNews.com raised shares of Alamos Gold from a hold rating to a buy rating in a report on Sunday, April 14th. Finally, Jefferies Financial Group lifted their price target on shares of Alamos Gold from $14.00 to $18.00 and gave the company a buy rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $18.15.

Alamos Gold Stock Up 2.5 %

Shares of AGI stock opened at $15.13 on Tuesday. The company has a 50 day moving average price of $13.58 and a 200-day moving average price of $13.20. Alamos Gold has a 52 week low of $10.78 and a 52 week high of $16.01. The firm has a market capitalization of $6.02 billion, a PE ratio of 28.55, a P/E/G ratio of 3.89 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The company 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 firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts anticipate that Alamos Gold will post 0.64 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 13th. Alamos Gold’s payout ratio is currently 18.87%.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently modified their holdings of AGI. Norges Bank bought a new stake in shares of Alamos Gold during the fourth quarter valued at approximately $64,117,000. Ninety One UK Ltd raised its position in shares of Alamos Gold by 84.9% during the fourth quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock valued at $40,580,000 after buying an additional 1,378,456 shares during the last quarter. Fiera Capital Corp raised its position in shares of Alamos Gold by 3,490.2% during the fourth quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock valued at $16,373,000 after buying an additional 1,179,695 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Alamos Gold by 396.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock valued at $19,215,000 after buying an additional 1,139,404 shares during the last quarter. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of Alamos Gold during the fourth quarter valued at approximately $5,922,000. Institutional investors 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.