Bank of America Cuts Alamos Gold (NYSE:AGI) Price Target to $30.50

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI had its price target reduced by analysts at Bank of America from $31.00 to $30.50 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. Bank of America's target price would suggest a potential upside of 4.49% from the company's current price.

Several other equities research analysts have also issued reports on the stock. National Bank Financial raised shares of Alamos Gold to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada upped their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, StockNews.com raised Alamos Gold from a "hold" rating to a "buy" rating in a report on Sunday, April 6th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $27.63.

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Alamos Gold Stock Performance

Shares of NYSE AGI traded up $1.22 during mid-day trading on Tuesday, hitting $29.19. The company had a trading volume of 6,016,646 shares, compared to its average volume of 2,531,595. Alamos Gold has a 12 month low of $14.31 and a 12 month high of $29.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The firm has a market cap of $12.27 billion, a P/E ratio of 42.30, a PEG ratio of 0.40 and a beta of 1.02. The business's 50-day simple moving average is $24.51 and its 200-day simple moving average is $21.22.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $375.80 million for the quarter, compared to analyst estimates of $388.06 million. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. As a group, analysts predict that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Alamos Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company's stock worth $295,105,000 after purchasing an additional 279,280 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Alamos Gold by 17.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company's stock valued at $173,991,000 after buying an additional 1,424,550 shares during the last quarter. CIBC Asset Management Inc lifted its position in Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company's stock worth $142,936,000 after buying an additional 2,867,027 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Alamos Gold by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company's stock worth $138,932,000 after acquiring an additional 318,360 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock valued at $136,011,000 after acquiring an additional 5,516,186 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

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.