Royal Bank of Canada Boosts Alamos Gold (NYSE:AGI) Price Target to $18.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price upped by research analysts at Royal Bank of Canada from $16.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target points to a potential upside of 20.32% from the company’s current price.

Several other research analysts also recently weighed in on the company. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Sunday, April 14th. National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Jefferies Financial Group raised their price target on Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America raised Alamos Gold from a “neutral” rating to a “buy” rating and raised their price target for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $18.15.

Alamos Gold Stock Performance

AGI stock traded up $0.20 during mid-day trading on Tuesday, reaching $14.96. The company had a trading volume of 1,351,111 shares, compared to its average volume of 2,564,410. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $16.01. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 3.89 and a beta of 1.15. The firm has a fifty day simple moving average of $13.51 and a 200 day simple moving average of $13.17.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $254.60 million for the quarter, compared to the consensus estimate of $257.47 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. As a group, analysts predict that Alamos Gold will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On Alamos Gold

Several large investors have recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new stake in shares of Alamos Gold during the fourth quarter worth $27,000. AJOVista LLC acquired a new position in shares of Alamos Gold during the fourth quarter valued at about $83,000. Fifth Third Bancorp bought a new stake in shares of Alamos Gold in the 4th quarter worth approximately $96,000. St. Johns Investment Management Company LLC bought a new position in Alamos Gold in the first quarter worth $115,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Alamos Gold by 14.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,596 shares in the last quarter. 64.33% of the stock is owned by institutional investors.

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.