Alamos Gold (TSE:AGI) Sets New 52-Week High After Analyst Upgrade

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI)’s stock price hit a new 52-week high during mid-day trading on Thursday after Bank of America raised their price target on the stock from C$67.00 to C$78.50. The company traded as high as C$70.66 and last traded at C$70.39, with a volume of 467745 shares traded. The stock had previously closed at C$68.40.

A number of other equities analysts also recently commented on AGI. Stifel Nicolaus raised their price objective on shares of Alamos Gold from C$65.00 to C$80.00 in a report on Tuesday, February 10th. National Bank Financial lifted their price target on shares of Alamos Gold from C$68.00 to C$75.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. TD Securities boosted their price target on shares of Alamos Gold from C$55.00 to C$66.00 in a research report on Thursday, January 22nd. Haywood Securities decreased their price objective on shares of Alamos Gold from C$77.50 to C$71.50 in a research note on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Alamos Gold from C$80.00 to C$90.00 in a report on Thursday. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$70.67.

Alamos Gold Stock Performance

The firm has a fifty day simple moving average of C$58.20 and a 200-day simple moving average of C$50.09. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 8.48. The stock has a market cap of C$31.04 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of -2.10 and a beta of 0.85.

Alamos Gold (TSE:AGI) (NYSE:AGI) last released its earnings results on Wednesday, February 18th. The company reported C$0.74 EPS for the quarter. Alamos Gold had a return on equity of 7.84% and a net margin of 19.89%.The company had revenue of C$765.13 million during the quarter. Analysts forecast that Alamos Gold Inc. will post 1.4774775 EPS for the current fiscal year.

About Alamos Gold

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development.