Jefferies Financial Group Raises Alamos Gold (NYSE:AGI) Price Target to $28.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target upped by equities research analysts at Jefferies Financial Group from $23.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 42.93% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Scotiabank upped their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold Stock Down 0.6 %

Shares of AGI stock opened at $19.59 on Friday. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 0.90 and a beta of 1.18. Alamos Gold has a 52-week low of $10.91 and a 52-week high of $21.42. The company’s 50 day moving average is $19.05 and its 200 day moving average is $16.92.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. During the same period last year, the business posted $0.15 EPS. The business’s revenue was up 27.4% compared to the same quarter last year. Analysts anticipate that Alamos Gold will post 0.75 EPS 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. B. Riley Wealth Advisors Inc. raised its stake in Alamos Gold by 11.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 127,364 shares of the basic materials company’s stock worth $1,997,000 after acquiring an additional 13,450 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Alamos Gold in the second quarter worth about $1,967,000. Lloyd Harbor Capital Management LLC lifted its holdings in shares of Alamos Gold by 3.5% during the second quarter. Lloyd Harbor Capital Management LLC now owns 590,000 shares of the basic materials company’s stock worth $9,251,000 after purchasing an additional 20,000 shares during the period. Mackenzie Financial Corp boosted its position in Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after buying an additional 4,521,282 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Alamos Gold by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,027,515 shares of the basic materials company’s stock worth $31,758,000 after buying an additional 84,787 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

About Alamos Gold

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.