Alamos Gold (NYSE:AGI) Price Target Raised to $18.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price lifted by Jefferies Financial Group from $14.00 to $18.00 in a research report sent to investors on Monday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also weighed in on the company. Royal Bank of Canada upgraded Alamos Gold from a sector perform rating to an outperform rating and raised their target price for the company from $12.00 to $16.00 in a research note on Thursday, January 11th. Bank of America upgraded Alamos Gold from a neutral rating to a buy rating and raised their target price for the company from $21.75 to $27.25 in a research note on Tuesday, April 9th. National Bank Financial restated an outperform overweight rating on shares of Alamos Gold in a research note on Monday, April 8th. Finally, StockNews.com upgraded Alamos Gold from a hold rating to a buy rating in a research note on Sunday, April 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $18.15.

Alamos Gold Price Performance

Shares of AGI stock opened at $14.97 on Monday. The stock has a market cap of $5.96 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 3.77 and a beta of 1.15. Alamos Gold has a one year low of $10.78 and a one year high of $16.01. The stock has a fifty day moving average price of $13.72 and a 200 day moving average price of $13.22.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $277.60 million during the quarter, compared to analysts’ expectations of $271.15 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share. Equities research analysts anticipate that Alamos Gold will post 0.66 EPS for the current year.

Alamos Gold Announces Dividend

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

Hedge Funds Weigh In On Alamos Gold

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $64,117,000. Ninety One UK Ltd raised its stake in Alamos Gold by 84.9% in the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock valued at $40,580,000 after acquiring an additional 1,378,456 shares during the period. Fiera Capital Corp raised its stake in Alamos Gold by 3,490.2% in the 4th quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock valued at $16,373,000 after acquiring an additional 1,179,695 shares during the period. The Manufacturers Life Insurance Company raised its stake in Alamos Gold by 396.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock valued at $19,215,000 after acquiring an additional 1,139,404 shares during the period. Finally, Caldwell Investment Management Ltd. bought a new stake in Alamos Gold in the 4th quarter valued at $5,922,000. 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.