Alamos Gold (NYSE:AGI) Price Target Cut to $49.00 by Analysts at Jefferies Financial Group

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price lowered by equities researchers at Jefferies Financial Group from $50.00 to $49.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 55.68% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Bank of America dropped their target price on Alamos Gold from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.00.

Alamos Gold Price Performance

AGI stock traded down $0.10 during trading on Monday, reaching $31.48. 1,051,582 shares of the company were exchanged, compared to its average volume of 4,006,273. The company has a 50-day moving average of $37.82 and a two-hundred day moving average of $41.74. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.43 and a beta of 0.55. Alamos Gold has a twelve month low of $23.92 and a twelve month high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company’s quarterly revenue was up 79.2% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. As a group, equities analysts predict that Alamos Gold will post 2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in AGI. Goldman Sachs Group Inc. increased its position in Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the period. Empowered Funds LLC bought a new stake in shares of Alamos Gold in the 1st quarter valued at $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alamos Gold by 129.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock worth $27,111,000 after buying an additional 571,536 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Alamos Gold by 375.1% during the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock worth $26,042,000 after buying an additional 774,111 shares during the period. Finally, Sei Investments Co. grew its holdings in Alamos Gold by 6.9% during the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after acquiring an additional 26,045 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.