Royal Bank of Canada Increases Alamos Gold (NYSE:AGI) Price Target to $18.00

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI had its price target raised by Royal Bank of Canada from $16.00 to $18.00 in a report released on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the basic materials company's stock. Royal Bank of Canada's target price would suggest a potential upside of 18.97% from the company's current price.

Several other research analysts have also recently weighed in on AGI. National Bank Financial restated an "outperform overweight" rating on shares of Alamos Gold in a research report on Monday, April 8th. StockNews.com upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research report on Sunday, April 14th. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Bank of America upgraded shares of Alamos Gold from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Alamos Gold currently has an average rating of "Moderate Buy" and a consensus price target of $18.15.

Alamos Gold Price Performance

Shares of NYSE:AGI traded up $0.37 during trading on Tuesday, reaching $15.13. The stock had a trading volume of 3,046,112 shares, compared to its average volume of 2,591,254. Alamos Gold has a 52 week low of $10.78 and a 52 week high of $16.01. The business's 50-day moving average price is $13.58 and its 200 day moving average price is $13.20. The stock has a market capitalization of $6.02 billion, a PE ratio of 28.55, a P/E/G ratio of 3.89 and a beta of 1.15.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The firm had revenue of $254.60 million during the quarter, compared to analysts' expectations of $257.47 million. During the same quarter in the previous year, the company posted $0.09 EPS. Alamos Gold's revenue was up 9.8% on a year-over-year basis. Analysts forecast that Alamos Gold will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Alamos Gold by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company's stock valued at $194,224,000 after buying an additional 216,280 shares during the period. Norges Bank acquired a new position in Alamos Gold in the 4th quarter worth $64,117,000. Invesco Ltd. boosted its stake in Alamos Gold by 4.9% in the 3rd quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company's stock worth $42,502,000 after purchasing an additional 175,117 shares during the period. American Century Companies Inc. boosted its stake in Alamos Gold by 14.7% in the 3rd quarter. American Century Companies Inc. now owns 3,339,827 shares of the basic materials company's stock worth $37,685,000 after purchasing an additional 428,780 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Alamos Gold by 9.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company's stock worth $40,525,000 after purchasing an additional 258,688 shares during the period. Institutional investors and hedge funds own 64.33% of the company's stock.

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.