Alamos Gold (NYSE:AGI) Upgraded at StockNews.com

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also issued reports on AGI. Royal Bank of Canada upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $12.00 to $16.00 in a research note on Thursday, January 11th. National Bank Financial reissued an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Bank of America raised Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group assumed coverage on Alamos Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $15.21 on Friday. The business’s 50-day moving average is $13.18 and its 200 day moving average is $13.00. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $16.01. The firm has a market capitalization of $6.05 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.79 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $254.60 million for the quarter, compared to analyst estimates of $257.47 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, analysts expect that Alamos Gold will post 0.66 EPS for the current year.

Hedge Funds Weigh In On Alamos Gold

A number of large investors have recently added to or reduced their stakes in AGI. Norges Bank purchased a new stake in shares of Alamos Gold during the fourth quarter worth about $64,117,000. Triasima Portfolio Management inc. acquired a new position in shares of Alamos Gold during the fourth quarter valued at approximately $31,471,000. Two Sigma Advisers LP increased its position in shares of Alamos Gold by 278.1% during the first quarter. Two Sigma Advisers LP now owns 2,770,364 shares of the basic materials company’s stock worth $33,882,000 after purchasing an additional 2,037,700 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Alamos Gold by 84.9% during the fourth quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after purchasing an additional 1,378,456 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Alamos Gold in the 4th quarter valued at $17,477,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.