Alamos Gold (TSE:AGI) Hits New 1-Year High on Analyst Upgrade

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI)’s share price hit a new 52-week high on Thursday after Bank of America raised their price target on the stock from C$67.00 to C$78.50. The stock traded as high as C$70.66 and last traded at C$70.39, with a volume of 467745 shares. The stock had previously closed at C$68.40.

AGI has been the subject of a number of other research reports. Stifel Nicolaus raised their price objective on Alamos Gold from C$65.00 to C$80.00 in a research note on Tuesday, February 10th. Canadian Imperial Bank of Commerce increased their target price on Alamos Gold from C$80.00 to C$90.00 in a report on Thursday. National Bank Financial boosted their target price on shares of Alamos Gold from C$68.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Haywood Securities dropped their price target on shares of Alamos Gold from C$77.50 to C$71.50 in a research report on Friday, February 6th. Finally, Desjardins increased their price objective on Alamos Gold from C$70.00 to C$80.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of C$70.67.

Alamos Gold Price Performance

The firm has a fifty day moving average price of C$58.20 and a two-hundred day moving average price of C$50.09. The stock has a market capitalization of C$31.04 billion, a P/E ratio of 35.20, a P/E/G ratio of -2.10 and a beta of 0.85. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 8.48.

Alamos Gold (TSE:AGI) (NYSE:AGI) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.74 earnings per share (EPS) for the quarter. Alamos Gold had a net margin of 19.89% and a return on equity of 7.84%. The firm had revenue of C$765.13 million for the quarter. On average, analysts expect that Alamos Gold Inc. will post 1.4774775 EPS for the current year.

About Alamos Gold

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development.