Alamos Gold (NYSE:AGI) Raised to Buy 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 “buy” rating in a research report issued on Saturday.

Other analysts have also recently issued research reports about the stock. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their target price on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group decreased their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, Bank of America reduced their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Trading Up 0.7%

NYSE:AGI opened at $29.59 on Friday. The firm has a market capitalization of $12.39 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.38 and a beta of 0.55. The business has a 50 day simple moving average of $33.90 and a 200 day simple moving average of $40.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. Alamos Gold has a 12-month low of $23.92 and a 12-month high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm’s revenue for the quarter was up 79.2% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Equities research analysts predict that Alamos Gold will post 2.19 EPS for the current year.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently modified their holdings of the company. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its holdings in shares of Alamos Gold by 10.1% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 62,400 shares of the basic materials company’s stock valued at $1,885,000 after buying an additional 5,700 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Alamos Gold by 3.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 41,978 shares of the basic materials company’s stock valued at $1,274,000 after purchasing an additional 1,303 shares in the last quarter. Steadtrust LLC grew its stake in shares of Alamos Gold by 2.5% in the 2nd quarter. Steadtrust LLC now owns 73,530 shares of the basic materials company’s stock worth $2,231,000 after purchasing an additional 1,800 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Alamos Gold by 5.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 91,500 shares of the basic materials company’s stock worth $2,773,000 after purchasing an additional 4,770 shares in the last quarter. Finally, Evanson Financial LLC bought a new stake in shares of Alamos Gold in the 2nd quarter worth approximately $400,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

About Alamos Gold

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.