StockNews.com Downgrades Alamos Gold (NYSE:AGI) to Buy

Alamos Gold (NYSE:AGI) (TSE:AGI) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms also recently issued reports on AGI. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Royal Bank of Canada increased their price target on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. National Bank Financial cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, Scotiabank boosted their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Stock Performance

AGI opened at $20.80 on Tuesday. The firm has a market cap of $8.30 billion, a P/E ratio of 39.99, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The business has a 50 day moving average price of $19.64 and a 200 day moving average price of $17.38. Alamos Gold has a twelve month low of $11.24 and a twelve month high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted 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 return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. During the same period in the previous year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, analysts anticipate that Alamos Gold will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently modified their holdings of the business. Baldwin Brothers LLC MA bought a new position in Alamos Gold in the second quarter valued at $47,000. Daiwa Securities Group Inc. acquired a new position in shares of Alamos Gold in the second quarter valued at about $48,000. Employees Retirement System of Texas bought a new position in shares of Alamos Gold during the second quarter worth approximately $88,000. St. Johns Investment Management Company LLC bought a new position in Alamos Gold during the 1st quarter worth $115,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Alamos Gold in the first quarter valued at about $203,000. 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.