Alamos Gold (NYSE:AGI) Upgraded by StockNews.com to Buy

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

AGI has been the topic of several other research reports. Bank of America raised Alamos Gold from a neutral rating to a buy rating and lifted their target price for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. Royal Bank of Canada upgraded shares of Alamos Gold from a sector perform rating to an outperform rating and increased their target price for the company from $12.00 to $16.00 in a report on Thursday, January 11th. National Bank Financial restated an outperform overweight rating on shares of Alamos Gold in a report on Monday, April 8th. Finally, Jefferies Financial Group started coverage on shares of Alamos Gold in a research report on Thursday, February 29th. They issued a buy rating and a $14.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of Moderate Buy and an average target price of $16.95.

Alamos Gold Trading Up 0.4 %

Alamos Gold stock opened at $14.94 on Friday. The firm’s fifty day moving average price is $13.33 and its two-hundred day moving average price is $13.07. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 3.69 and a beta of 1.15. Alamos Gold has a 1-year low of $10.78 and a 1-year high of $16.01.

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

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.67%. Alamos Gold’s dividend payout ratio (DPR) is presently 18.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Alamos Gold by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock valued at $194,224,000 after purchasing an additional 216,280 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Alamos Gold by 6.7% during the 1st quarter. Renaissance Technologies LLC now owns 9,177,531 shares of the basic materials company’s stock valued at $77,275,000 after buying an additional 579,511 shares during the last quarter. Norges Bank bought a new position in shares of Alamos Gold during the 4th quarter worth $64,117,000. FMR LLC grew its stake in shares of Alamos Gold by 24.3% during the 2nd quarter. FMR LLC now owns 4,411,128 shares of the basic materials company’s stock worth $30,945,000 after acquiring an additional 863,013 shares during the period. Finally, Invesco Ltd. increased its holdings in Alamos Gold by 4.9% in the 3rd quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock worth $42,502,000 after acquiring an additional 175,117 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

About Alamos Gold

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.