Alamos Gold (NYSE:AGI) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other research firms also recently issued reports on AGI. National Bank Financial upgraded shares of Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Royal Bank of Canada upped their price objective on shares of Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $26.81.

Alamos Gold Price Performance

AGI stock opened at $24.54 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 0.40 and a beta of 1.02. The company’s fifty day simple moving average is $23.76 and its 200 day simple moving average is $20.96. Alamos Gold has a 12-month low of $14.31 and a 12-month high of $27.32.

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

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold’s dividend payout ratio is currently 14.49%.

Institutional Trading of Alamos Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of AGI. Old West Investment Management LLC lifted its stake in shares of Alamos Gold by 11.0% in the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock valued at $9,689,000 after buying an additional 48,128 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Alamos Gold by 59.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after acquiring an additional 2,867,027 shares during the last quarter. Canoe Financial LP bought a new position in Alamos Gold in the 4th quarter valued at about $4,066,000. Geode Capital Management LLC boosted its stake in Alamos Gold by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 299,612 shares of the basic materials company’s stock valued at $6,224,000 after purchasing an additional 29,933 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Alamos Gold by 18.4% during the 3rd quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock worth $30,492,000 after purchasing an additional 237,278 shares in the last quarter. 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.