Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) had its price objective upped by research analysts at Jefferies Financial Group from $23.00 to $28.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 42.42% from the company’s previous close.
A number of other research firms also recently weighed in on AGI. Royal Bank of Canada lifted their price objective on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank upped their price target on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, National Bank Financial cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.06.
Check Out Our Latest Stock Report on Alamos Gold
Alamos Gold Stock Down 0.3 %
Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating 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%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, analysts forecast that Alamos Gold will post 0.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Alamos Gold
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baldwin Brothers LLC MA bought a new position in shares of Alamos Gold in the 2nd quarter valued at about $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold during the second quarter worth approximately $48,000. Employees Retirement System of Texas acquired a new position in Alamos Gold in the second quarter valued at approximately $88,000. St. Johns Investment Management Company LLC bought a new position in Alamos Gold in the first quarter valued at approximately $115,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Alamos Gold during the 1st quarter worth $203,000. Institutional investors and hedge funds 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.
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