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Alamos Gold (AGI) Receives New Coverage from Analysts at Credit Suisse Group
Posted by Vince Mercandetti on May 10th, 2019 // Comments off
Equities researchers at Credit Suisse Group began coverage on shares of Alamos Gold (NYSE:AGI) (TSE:AGI) in a research report issued to clients and investors on Tuesday, April 16th, MarketBeat.com reports. The firm set an "outperform" rating and a $7.00 price target on the basic materials company's stock. Credit Suisse Group's target price points to a potential upside of 57.66% from the stock's current price.
A number of other brokerages also recently issued reports on AGI. Royal Bank of Canada cut their price objective on Alamos Gold from $7.00 to $5.50 and set a "sector perform" rating for the company in a research report on Thursday, January 24th. National Bank Financial cut Alamos Gold from an "outperform" rating to a "sector perform" rating in a report on Thursday, March 21st. CIBC restated an "average" rating and set a $8.25 target price on shares of Alamos Gold in a report on Monday, January 21st. ValuEngine upgraded Alamos Gold from a "sell" rating to a "hold" rating in a report on Monday, February 4th. Finally, Zacks Investment Research upgraded Alamos Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Alamos Gold has an average rating of "Hold" and an average price target of $6.62.
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Shares of NYSE:AGI traded down $0.14 during midday trading on Tuesday, reaching $4.44. 1,272,169 shares of the company's stock were exchanged, compared to its average volume of 2,101,214. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 88.80 and a beta of 0.20. Alamos Gold has a fifty-two week low of $2.90 and a fifty-two week high of $6.13.
Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.03. The firm had revenue of $156.00 million during the quarter, compared to the consensus estimate of $163.19 million. Alamos Gold had a positive return on equity of 0.67% and a negative net margin of 8.88%. The company's quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, sell-side analysts expect that Alamos Gold will post 0.13 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Alamos Gold by 18.5% in the 4th quarter. Van ECK Associates Corp now owns 50,412,471 shares of the basic materials company's stock valued at $181,485,000 after buying an additional 7,865,458 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in shares of Alamos Gold by 3.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 10,701,590 shares of the basic materials company's stock valued at $3,850,000 after buying an additional 310,360 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alamos Gold by 59.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,698,902 shares of the basic materials company's stock valued at $49,322,000 after buying an additional 3,995,623 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Alamos Gold by 28.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 9,653,820 shares of the basic materials company's stock valued at $49,041,000 after buying an additional 2,136,900 shares during the period. Finally, Vanguard Group Inc boosted its stake in shares of Alamos Gold by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 9,500,865 shares of the basic materials company's stock valued at $43,799,000 after buying an additional 329,664 shares during the period. Institutional investors and hedge funds own 60.72% of the company's stock.
About Alamos Gold
Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada.
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