National Bank Financial Upgrades Alamos Gold (NYSE:AGI) to “Outperform”

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Other equities analysts have also issued reports about the company. Scotiabank raised their target price on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price objective on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Royal Bank of Canada lifted their price objective on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $25.06.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $19.56 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Alamos Gold has a 1 year low of $11.24 and a 1 year high of $21.45. The business has a fifty day simple moving average of $19.54 and a 200 day simple moving average of $18.27. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 0.74 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The company had revenue of $360.90 million for the quarter. As a group, sell-side analysts predict that Alamos Gold will post 0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in AGI. Hara Capital LLC acquired a new position in Alamos Gold in the 3rd quarter worth $47,000. Baldwin Brothers LLC MA acquired a new position in Alamos Gold in the 2nd quarter worth $47,000. Daiwa Securities Group Inc. acquired a new position in Alamos Gold in the 2nd quarter worth $48,000. Eastern Bank acquired a new position in Alamos Gold in the 3rd quarter worth $111,000. Finally, Employees Retirement System of Texas acquired a new position in Alamos Gold in the 2nd quarter worth $88,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

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.