Alamos Gold (NYSE:AGI) Given New $23.00 Price Target at Jefferies Financial Group

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price increased by Jefferies Financial Group from $21.00 to $23.00 in a report published on Friday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

A number of other research analysts have also commented on AGI. Royal Bank of Canada lifted their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the company an outperform rating in a research note on Tuesday. National Bank Financial lowered shares of Alamos Gold from a strong-buy rating to a hold rating in a research note on Sunday, September 8th. Scotiabank lifted their target price on shares of Alamos Gold from $20.00 to $22.00 and gave the company a sector outperform rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of Alamos Gold from a hold rating to a buy rating in a report on Thursday, May 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $23.81.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $20.69 on Friday. The company’s fifty day moving average price is $18.08 and its 200 day moving average price is $16.13. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $20.90. The firm has a market capitalization of $8.69 billion, a P/E ratio of 39.79, a P/E/G ratio of 0.82 and a beta of 1.18.

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

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s dividend payout ratio is currently 19.23%.

Institutional Trading of Alamos Gold

A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after buying an additional 4,009,220 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alamos Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after buying an additional 250,207 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after buying an additional 4,521,282 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after buying an additional 2,756,759 shares in the last quarter. Finally, Norges Bank purchased a new stake in Alamos Gold during the fourth quarter worth about $64,117,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

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.