Alamos Gold (TSE:AGI) Reaches New 52-Week High Following Analyst Upgrade

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) shares reached a new 52-week high during trading on Friday after Desjardins upgraded the stock to a moderate buy rating. The stock traded as high as C$52.83 and last traded at C$52.75, with a volume of 538892 shares changing hands. The stock had previously closed at C$51.74.

Other analysts have also recently issued reports about the stock. Bank of America upped their target price on shares of Alamos Gold from C$55.00 to C$60.00 in a research report on Thursday, October 16th. CIBC boosted their price objective on Alamos Gold from C$55.00 to C$74.00 in a research note on Friday, October 10th. National Bankshares raised their price objective on Alamos Gold from C$56.00 to C$64.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. BMO Capital Markets lifted their target price on Alamos Gold from C$48.00 to C$51.00 in a report on Tuesday, September 16th. Finally, TD Securities decreased their price target on Alamos Gold from C$56.00 to C$55.00 in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$59.63.

Alamos Gold Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 8.48. The business has a 50 day moving average price of C$46.70 and a 200 day moving average price of C$40.77. The stock has a market cap of C$22.20 billion, a P/E ratio of 41.22, a PEG ratio of -2.10 and a beta of 0.84.

Alamos Gold (TSE:AGI) (NYSE:AGI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported C$0.65 earnings per share (EPS) for the quarter. Alamos Gold had a return on equity of 7.84% and a net margin of 19.89%.The firm had revenue of C$643.72 million during the quarter. As a group, sell-side analysts expect that Alamos Gold Inc. will post 1.4774775 EPS for the current year.

Alamos Gold Company Profile

Alamos Gold Inc acquires, explores, and produces gold and other precious metals, and operates in two principal geographic areas: Canada and Mexico. The company has three operating mines in North America: the Young-Davidson Mine in Canada and the Mulatos and El Chanate Mines in Sonora, Mexico. The Young-Davidson mine is the group’s largest revenue contributor, and the property also holds mineral leases and claims covering approximately 11,000 acres.