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

Key Points

• Bank of America cut its price target on Alamos Gold from $50 to $39, while keeping a buy rating on the stock. The new target still implies about 33% upside from the previous close.
• Other analysts have also adjusted views recently: Jefferies trimmed its target to $49, Weiss Ratings lowered its rating slightly, and Wall Street Zen downgraded the stock to hold. Overall, the consensus remains Moderate Buy with a $49.33 average target.
• Alamos Gold recently reported Q1 earnings of $0.54 per share, matching estimates, while revenue rose 79.2% year over year to $596.7 million. The company also has strong liquidity and relatively low leverage, with a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI had its price target cut by research analysts at Bank of America from $50.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. Bank of America's target price indicates a potential upside of 33.38% from the company's previous close.

AGI has been the topic of a number of other research reports. Weiss Ratings lowered Alamos Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Jefferies Financial Group lowered their price objective 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. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Finally, Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.33.

Alamos Gold Stock Performance

NYSE AGI opened at $29.24 on Thursday. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.42 and a beta of 0.55. The company has a 50 day moving average of $36.99 and a 200-day moving average of $41.59. 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 - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $596.70 million for the quarter, compared to the consensus estimate 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 was up 79.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, equities analysts forecast that Alamos Gold will post 2.29 earnings per share for the current fiscal year.

Institutional Trading of Alamos Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in shares of Alamos Gold in the 4th quarter valued at about $25,000. Clearstead Advisors LLC lifted its holdings 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 buying an additional 251 shares during the period. Smartleaf Asset Management LLC boosted 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 acquiring an additional 222 shares during the last quarter. Parallel Advisors LLC bought a new position in Alamos Gold in the first quarter valued at approximately $35,000. Finally, Bayforest Capital Ltd acquired a new stake in Alamos Gold during the 4th quarter worth $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.

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