Jefferies Financial Group Cuts Alamos Gold (NYSE:AGI) Price Target to $49.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective cut by equities research analysts at Jefferies Financial Group from $50.00 to $49.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 55.68% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings downgraded Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Bank of America decreased their target price on Alamos Gold from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Alamos Gold Stock Performance

AGI stock traded down $0.10 during trading hours on Monday, reaching $31.48. The stock had a trading volume of 1,051,582 shares, compared to its average volume of 4,006,273. The stock has a 50-day simple moving average of $37.82 and a 200 day simple moving average of $41.74. Alamos Gold has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The stock has a market capitalization of $13.19 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.43 and a beta of 0.55. 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 (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. During the same period in the previous year, the business earned $0.14 EPS. Alamos Gold’s revenue for the quarter was up 79.2% compared to the same quarter last year. Analysts predict that Alamos Gold will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the company. Confluence Investment Management LLC lifted its stake in Alamos Gold by 4.8% during the second quarter. Confluence Investment Management LLC now owns 36,903 shares of the basic materials company’s stock worth $1,120,000 after purchasing an additional 1,677 shares during the last quarter. Wealth High Governance Capital Ltda bought a new position in shares of Alamos Gold in the 1st quarter valued at $6,241,000. Wealth High Governance Asset Management Ltda. bought a new position in shares of Alamos Gold in the 1st quarter valued at $5,291,000. PVG Asset Management Corp raised its holdings in shares of Alamos Gold by 746.8% during the 1st quarter. PVG Asset Management Corp now owns 45,244 shares of the basic materials company’s stock worth $2,010,000 after buying an additional 39,901 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new position in shares of Alamos Gold during the 1st quarter worth $35,000. 64.33% of the stock is owned by institutional investors.

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.