Jefferies Financial Group Boosts Alamos Gold (NYSE:AGI) Price Target to $23.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price boosted by Jefferies Financial Group from $21.00 to $23.00 in a research report report published on Friday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on AGI. National Bank Financial cut Alamos Gold from a strong-buy rating to a hold rating in a research report on Sunday, September 8th. Scotiabank lifted their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a sector outperform rating in a report on Monday, August 19th. Royal Bank of Canada lifted their price objective on Alamos Gold from $20.00 to $23.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Finally, StockNews.com raised Alamos Gold from a hold rating to a buy rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Alamos Gold has a consensus rating of Moderate Buy and a consensus target price of $23.81.

Alamos Gold Stock Performance

Shares of AGI stock opened at $20.69 on Friday. The firm has a market capitalization of $8.69 billion, a P/E ratio of 39.79, a PEG ratio of 0.82 and a beta of 1.18. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $20.90. The stock’s fifty day moving average is $18.08 and its two-hundred day moving average is $16.19.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. On average, equities analysts forecast that Alamos Gold will post 0.75 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.48%. The ex-dividend date is Thursday, September 12th. Alamos Gold’s dividend payout ratio is presently 19.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings in Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after purchasing an additional 4,009,220 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alamos Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock valued at $216,371,000 after purchasing an additional 250,207 shares during the period. Mackenzie Financial Corp raised its stake in Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares in the last quarter. Finally, Norges Bank bought a new position in Alamos Gold in the 4th quarter valued at $64,117,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

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.