Alamos Gold (NYSE:AGI) Given New $30.50 Price Target at Bank of America

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target dropped by Bank of America from $31.00 to $30.50 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Bank of America‘s target price indicates a potential upside of 14.99% from the stock’s previous close.

AGI has been the subject of a number of other reports. 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 increased their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and an average price target of $27.63.

Alamos Gold Trading Up 8.3 %

NYSE:AGI opened at $26.53 on Tuesday. Alamos Gold has a 1 year low of $14.31 and a 1 year high of $27.32. The stock’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $21.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The company has a market cap of $11.15 billion, a P/E ratio of 38.44, a P/E/G ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $388.06 million. As a group, analysts expect that Alamos Gold will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of AGI. Old West Investment Management LLC grew its position in 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 worth $9,689,000 after acquiring an additional 48,128 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after purchasing an additional 2,867,027 shares during the last quarter. Canoe Financial LP purchased a new position in shares of Alamos Gold in the 4th quarter worth about $4,066,000. Geode Capital Management LLC increased its position in shares of 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, Addenda Capital Inc. purchased a new position in shares of Alamos Gold during the 4th quarter valued at about $34,869,000. 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.