Wall Street Zen Upgrades Alamos Gold (NYSE:AGI) to “Strong-Buy”

Alamos Gold (NYSE:AGI) (TSE:AGI) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other analysts also recently commented on AGI. Zacks Research downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Desjardins assumed coverage on Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating on the stock. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Price Performance

Shares of AGI opened at $47.95 on Friday. The stock’s fifty day moving average is $41.09 and its 200-day moving average is $35.48. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.45 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. Alamos Gold has a one year low of $22.03 and a one year high of $48.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. Alamos Gold’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Equities analysts anticipate that Alamos Gold will post 1.29 EPS for the current year.

Institutional Trading of Alamos Gold

Several institutional investors have recently made changes to their positions in AGI. Alpine Woods Capital Investors LLC raised its stake in shares of Alamos Gold by 285.2% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 26,965 shares of the basic materials company’s stock worth $1,040,000 after purchasing an additional 19,965 shares in the last quarter. Vident Advisory LLC increased its holdings in Alamos Gold by 255.3% in the fourth quarter. Vident Advisory LLC now owns 62,619 shares of the basic materials company’s stock worth $2,416,000 after buying an additional 44,996 shares during the last quarter. Coastal Bridge Advisors LLC raised its position in Alamos Gold by 1.8% during the fourth quarter. Coastal Bridge Advisors LLC now owns 16,907 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 300 shares in the last quarter. Grand Central Investment Group bought a new position in Alamos Gold during the fourth quarter valued at approximately $5,650,000. Finally, Empowered Funds LLC lifted its stake in Alamos Gold by 189.1% in the fourth quarter. Empowered Funds LLC now owns 17,414 shares of the basic materials company’s stock valued at $672,000 after acquiring an additional 11,391 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

About Alamos Gold

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.