Bank of America Has Lowered Expectations for Alamos Gold (NYSE:AGI) Stock Price

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price decreased by equities researchers at Bank of America from $57.00 to $50.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 37.93% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings lowered shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus price target of $53.00.

Alamos Gold Stock Down 0.3%

NYSE:AGI opened at $36.25 on Monday. The business’s fifty day moving average price is $41.16 and its 200 day moving average price is $42.15. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.47 and a beta of 0.49. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm had revenue of $596.70 million during the quarter, compared to analyst estimates of $612.35 million. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was up 79.2% compared to the same quarter last year. On average, sell-side analysts forecast that Alamos Gold will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp acquired a new position in Alamos Gold in the fourth quarter worth approximately $25,000. Clearstead Advisors LLC lifted its stake in Alamos Gold by 62.7% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 worth $28,000 after acquiring an additional 222 shares in the last quarter. Parallel Advisors LLC bought a new stake in Alamos Gold in the first quarter worth approximately $35,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Alamos Gold during the 4th quarter worth $44,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.