Royal Bank of Canada Raises Alamos Gold (NYSE:AGI) Price Target to $23.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target boosted by equities researchers at Royal Bank of Canada from $20.00 to $23.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.63% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Scotiabank boosted their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price on shares of Alamos Gold from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday. Finally, StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.31.

Alamos Gold Price Performance

Shares of AGI stock opened at $18.91 on Tuesday. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $20.24. The firm has a market capitalization of $7.55 billion, a P/E ratio of 36.37, a P/E/G ratio of 0.78 and a beta of 1.18. The company’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $16.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alamos Gold will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Alamos Gold

Institutional investors have recently modified their holdings of the business. Natixis Advisors L.P. grew its position in Alamos Gold by 3.6% in the 4th quarter. Natixis Advisors L.P. now owns 32,588 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 1,137 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Alamos Gold in the 4th quarter worth about $245,000. Oxbow Advisors LLC grew its position in Alamos Gold by 14.5% in the 4th quarter. Oxbow Advisors LLC now owns 67,276 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 8,500 shares during the last quarter. Fiera Capital Corp grew its position in Alamos Gold by 3,490.2% in the 4th quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock worth $16,373,000 after purchasing an additional 1,179,695 shares during the last quarter. Finally, Navellier & Associates Inc. grew its position in Alamos Gold by 17.2% in the 4th quarter. Navellier & Associates Inc. now owns 146,627 shares of the basic materials company’s stock worth $1,975,000 after purchasing an additional 21,556 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

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.