Alamos Gold (NYSE:AGI) Raised 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 released on Sunday morning.

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

Alamos Gold Stock Performance

NYSE AGI opened at $14.89 on Friday. The firm has a 50-day simple moving average of $13.27 and a 200 day simple moving average of $13.06. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $16.01. The stock has a market cap of $5.92 billion, a PE ratio of 28.09, a PEG ratio of 3.75 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The business had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $257.47 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Alamos Gold will post 0.66 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

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

Hedge Funds Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in Alamos Gold in the 4th quarter valued at $27,000. Tower Research Capital LLC TRC lifted its position 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 valued at $47,000 after acquiring an additional 2,752 shares in the last quarter. US Bancorp DE lifted its position 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 valued at $67,000 after acquiring an additional 2,565 shares in the last quarter. AJOVista LLC bought a new stake in Alamos Gold in the 4th quarter valued at $83,000. Finally, IFP Advisors Inc bought a new stake in Alamos Gold in the 2nd quarter valued at $84,000. 64.33% of the stock is owned by institutional investors.

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.