Alamos Gold (NYSE:AGI) Upgraded at Wall Street Zen

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report released on Saturday.

A number of other research firms have also recently issued reports on AGI. TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Desjardins started coverage on shares of Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research note on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Price Performance

Shares of AGI stock opened at $47.95 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.33. The stock’s fifty day simple moving average is $41.09 and its 200 day simple moving average is $35.35. Alamos Gold has a one year low of $22.03 and a one year high of $48.07. The firm has a market cap of $20.13 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.43 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The company had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The firm’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, analysts expect that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Alamos Gold during the second quarter worth about $1,502,000. PCJ Investment Counsel Ltd. lifted its stake in Alamos Gold by 37.9% in the second quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after buying an additional 23,560 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Alamos Gold by 3.8% in the third quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock valued at $22,928,000 after buying an additional 24,330 shares during the period. Caldwell Investment Management Ltd. boosted its stake in Alamos Gold by 143.5% in the 3rd quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock worth $5,818,000 after purchasing an additional 99,000 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Alamos Gold by 29.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock worth $51,192,000 after purchasing an additional 336,200 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.