Alamos Gold (NYSE:AGI) Raised to Buy at Wall Street Zen

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

AGI has been the topic of a number of other research reports. Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. 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 research report on Monday, July 6th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Bank of America cut their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Stock Up 0.0%

AGI stock opened at $29.59 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The stock has a market capitalization of $12.39 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.38 and a beta of 0.55. Alamos Gold has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The business has a 50-day moving average of $33.90 and a 200-day moving average of $40.72.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.Alamos Gold’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. On average, sell-side analysts anticipate that Alamos Gold will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold in the 4th quarter valued at about $25,000. Clearstead Advisors LLC increased its position in Alamos Gold by 62.7% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after buying an additional 222 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Alamos Gold in the first quarter valued at approximately $35,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $44,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.