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

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target increased by Royal Bank of Canada from $16.00 to $18.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

AGI has been the subject of a number of other research reports. StockNews.com upgraded Alamos Gold from a hold rating to a buy rating in a research note on Sunday, April 14th. Jefferies Financial Group increased their target price on Alamos Gold from $14.00 to $18.00 and gave the company a buy rating in a research note on Monday. National Bank Financial reiterated an outperform overweight rating on shares of Alamos Gold in a research note on Monday, April 8th. Finally, Bank of America upgraded Alamos Gold from a neutral rating to a buy rating and increased their target price for the company from $21.75 to $27.25 in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Alamos Gold currently has a consensus rating of Moderate Buy and an average target price of $18.15.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $14.97 on Tuesday. The firm has a market capitalization of $5.96 billion, a PE ratio of 28.25, a P/E/G ratio of 3.77 and a beta of 1.15. The business has a 50-day moving average of $13.72 and a two-hundred day moving average of $13.22. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $16.01.

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

Alamos Gold Announces Dividend

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

Institutional Investors Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its stake in Alamos Gold by 9.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company’s stock valued at $40,525,000 after purchasing an additional 258,688 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Alamos Gold by 84.9% during the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after buying an additional 1,378,456 shares during the last quarter. Raymond James & Associates lifted its holdings in Alamos Gold by 74.5% during the 4th quarter. Raymond James & Associates now owns 472,938 shares of the basic materials company’s stock worth $6,370,000 after buying an additional 201,905 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Alamos Gold by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,202,762 shares of the basic materials company’s stock worth $160,349,000 after buying an additional 202,396 shares during the last quarter. Finally, Genus Capital Management Inc. lifted its holdings in Alamos Gold by 367.0% during the 3rd quarter. Genus Capital Management Inc. now owns 326,000 shares of the basic materials company’s stock worth $3,694,000 after buying an additional 256,200 shares during the last quarter. Institutional investors and hedge funds 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.