Alamos Gold (NYSE:AGI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research note published on Sunday.

Other analysts have also recently issued reports about the stock. National Bank Financial restated an outperform overweight rating on shares of Alamos Gold in a report on Monday, April 8th. Jefferies Financial Group began coverage on shares of Alamos Gold in a report on Thursday, February 29th. They issued a buy rating and a $14.00 price target on the stock. Royal Bank of Canada raised Alamos Gold from a sector perform rating to an outperform rating and upped their price target for the stock from $12.00 to $16.00 in a research report on Thursday, January 11th. Finally, Bank of America raised Alamos Gold from a neutral rating to a buy rating and raised their price objective for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $16.95.

Alamos Gold Trading Up 0.4 %

Shares of NYSE AGI opened at $14.94 on Friday. Alamos Gold has a 12-month low of $10.78 and a 12-month high of $16.01. The stock’s fifty day simple moving average is $13.33 and its two-hundred day simple moving average is $13.07. The stock has a market capitalization of $5.94 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.69 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The company had revenue of $254.60 million for the quarter, compared to the consensus estimate of $257.47 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Alamos Gold will post 0.66 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Wednesday, March 13th. Alamos Gold’s payout ratio is 18.87%.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new position in shares of Alamos Gold in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC increased its holdings in Alamos Gold by 230.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,948 shares of the basic materials company’s stock worth $47,000 after buying an additional 2,752 shares during the period. US Bancorp DE increased its holdings in Alamos Gold by 106.7% in the 4th quarter. US Bancorp DE now owns 4,968 shares of the basic materials company’s stock worth $67,000 after buying an additional 2,565 shares during the period. AJOVista LLC purchased a new position in Alamos Gold during the 4th quarter worth approximately $83,000. Finally, IFP Advisors Inc acquired a new stake in Alamos Gold during the 2nd quarter valued at approximately $84,000. Hedge funds and other institutional investors 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.