Royal Bank of Canada Raises Alamos Gold (NYSE:AGI) Price Target to $30.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price raised by equities research analysts at Royal Bank of Canada from $27.00 to $30.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.27% from the company’s current price.

AGI has been the topic of several other reports. StockNews.com lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. National Bank Financial upgraded shares of Alamos Gold to a “strong-buy” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.81.

Alamos Gold Stock Down 8.7 %

Shares of NYSE AGI opened at $24.54 on Friday. The firm has a fifty day simple moving average of $23.76 and a two-hundred day simple moving average of $20.95. Alamos Gold has a 12 month low of $14.31 and a 12 month high of $27.32. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $10.32 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Alamos Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock valued at $295,105,000 after acquiring an additional 279,280 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock valued at $173,991,000 after purchasing an additional 1,424,550 shares during the last quarter. CIBC Asset Management Inc increased its stake in 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 in the last quarter. Renaissance Technologies LLC raised its holdings in Alamos Gold by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company’s stock worth $138,932,000 after buying an additional 318,360 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock worth $136,011,000 after buying an additional 5,516,186 shares in the last quarter. Hedge funds and other 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.