Alamos Gold (NYSE:AGI) Earns “Outperform” Rating from Royal Bank Of Canada

Alamos Gold (NYSE:AGI) (TSE:AGI)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $42.00 target price on the basic materials company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 18.78% from the company’s previous close.

Several other research analysts have also recently commented on AGI. Jefferies Financial Group decreased their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 6th. Bank of America reduced their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings cut shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Price Performance

Shares of AGI traded up $0.19 during trading hours on Wednesday, hitting $35.36. 1,309,125 shares of the company were exchanged, compared to its average volume of 4,078,965. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market capitalization of $14.80 billion, a PE ratio of 12.73, a PEG ratio of 0.48 and a beta of 0.61. The firm has a fifty day simple moving average of $32.89 and a 200-day simple moving average of $38.50. Alamos Gold has a one year low of $27.05 and a one year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.Alamos Gold’s revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, sell-side analysts predict that Alamos Gold will post 2.12 earnings per share for the current year.

Institutional Trading of Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank increased its position in Alamos Gold by 26.8% in the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock worth $62,782,000 after buying an additional 298,900 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Alamos Gold by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after acquiring an additional 141,000 shares during the period. DJE Kapital AG grew its stake in shares of Alamos Gold by 66.2% in the first quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock worth $12,665,000 after acquiring an additional 118,006 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after acquiring an additional 1,216,977 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in Alamos Gold during the first quarter worth $13,332,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold’s principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.