Alamos Gold (NYSE:AGI) Upgraded to Buy at Bank of America

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI was upgraded by Bank of America from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat reports. The firm currently has a $27.25 target price on the basic materials company's stock, up from their prior target price of $21.75. Bank of America's price target would suggest a potential upside of 81.00% from the company's current price.

AGI has been the topic of several other reports. Royal Bank of Canada raised shares of Alamos Gold from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $12.00 to $16.00 in a report on Thursday, January 11th. StockNews.com cut shares of Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday. National Bank Financial reaffirmed an "outperform overweight" rating on shares of Alamos Gold in a report on Wednesday, January 3rd. Finally, Jefferies Financial Group assumed coverage on shares of Alamos Gold in a report on Thursday, February 29th. They issued a "buy" rating and a $14.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $16.95.

Alamos Gold Stock Up 1.3 %

Shares of NYSE AGI traded up $0.20 during trading on Tuesday, reaching $15.06. 3,725,882 shares of the stock were exchanged, compared to its average volume of 2,535,254. The business's 50-day moving average price is $12.95 and its 200 day moving average price is $12.91. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $15.45. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $254.60 million for the quarter, compared to analysts' expectations of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts expect that Alamos Gold will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in shares of Alamos Gold during the fourth quarter worth about $27,000. Tower Research Capital LLC TRC grew 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 buying an additional 2,752 shares in the last quarter. US Bancorp DE grew 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 buying an additional 2,565 shares in the last quarter. AJOVista LLC bought a new position in Alamos Gold in the 4th quarter valued at about $83,000. Finally, IFP Advisors Inc bought a new position in Alamos Gold in the 2nd quarter valued at about $84,000. Institutional investors own 64.33% of the company's stock.

Alamos Gold Company Profile

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.