Bank of America Lowers Alamos Gold (NYSE:AGI) Price Target to $30.50

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target lowered by analysts at Bank of America from $31.00 to $30.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 19.67% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday. National Bank Financial raised Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada upped their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.63.

Alamos Gold Stock Performance

Alamos Gold stock traded up $0.96 during trading hours on Tuesday, hitting $25.49. 1,215,673 shares of the stock traded hands, compared to its average volume of 2,490,861. Alamos Gold has a 1 year low of $14.31 and a 1 year high of $27.32. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 0.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The firm’s 50 day moving average price is $23.84 and its 200-day moving average price is $20.99.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $375.80 million for the quarter, compared to the consensus estimate of $388.06 million. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. As a group, equities analysts expect that Alamos Gold will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Alamos Gold by 155.7% during the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Alamos Gold by 51.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 856 shares during the period. R Squared Ltd acquired a new position in Alamos Gold during the 4th quarter valued at approximately $61,000. Cutler Capital Management LLC acquired a new position in shares of Alamos Gold during the fourth quarter valued at $108,000. Finally, Daiwa Securities Group Inc. bought a new position in Alamos Gold in the 4th quarter worth about $136,000. Institutional investors and hedge funds 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.