Alamos Gold Inc. (AGI) Stock Price Up 4%
Alamos Gold Inc. (NYSE:AGI) rose 4% during trading on Thursday . The company traded as high as $9.06 and last traded at $8.91, with a volume of 669,628 shares. The stock had previously closed at $8.57.
AGI has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Alamos Gold from $5.00 to $6.50 in a research note on Tuesday, April 12th. Zacks Investment Research raised Alamos Gold from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Thursday, March 31st. Bank of America Corp. reissued a “buy” rating on shares of Alamos Gold in a research note on Tuesday, July 12th. Credit Suisse Group AG reissued a “hold” rating on shares of Alamos Gold in a research note on Saturday, May 14th. Finally, TD Securities reissued a “hold” rating and issued a $8.50 target price (up from $8.00) on shares of Alamos Gold in a research note on Saturday, May 14th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Alamos Gold currently has an average rating of “Hold” and an average price target of $7.58.
The stock has a 50 day moving average of $8.55 and a 200-day moving average of $5.96. The company’s market cap is $2.31 billion.
Alamos Gold (NYSE:AGI) last announced its earnings results on Thursday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. During the same period in the prior year, the business earned $0.02 earnings per share. The company had revenue of $104.30 million for the quarter, compared to the consensus estimate of $113.08 million. The firm’s revenue for the quarter was up 61.5% on a year-over-year basis. Equities research analysts expect that Alamos Gold Inc. will post $0.02 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently made changes to their positions in the company. I.G. Investment Management LTD. raised its position in shares of Alamos Gold by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 4,555,741 shares of the company’s stock valued at $14,988,000 after buying an additional 30,651 shares in the last quarter. Bank of Montreal Can raised its position in shares of Alamos Gold by 81.0% in the fourth quarter. Bank of Montreal Can now owns 2,227,714 shares of the company’s stock valued at $7,330,000 after buying an additional 997,266 shares in the last quarter. TD Asset Management Inc. bought a new position in shares of Alamos Gold during the fourth quarter valued at about $5,618,000. OppenheimerFunds Inc. raised its position in shares of Alamos Gold by 5.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,715,427 shares of the company’s stock valued at $5,644,000 after buying an additional 90,000 shares in the last quarter. Finally, Royce & Associates LLC raised its position in shares of Alamos Gold by 77.2% in the fourth quarter. Royce & Associates LLC now owns 1,273,544 shares of the company’s stock valued at $4,188,000 after buying an additional 555,000 shares in the last quarter.
Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.
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