Alamos Gold (NYSE:AGI) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective hoisted by Royal Bank of Canada from $25.00 to $27.00 in a research note published on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other research firms have also issued reports on AGI. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $26.06.

Alamos Gold Price Performance

NYSE AGI opened at $23.04 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Alamos Gold has a 1 year low of $11.27 and a 1 year high of $23.08. The company has a fifty day simple moving average of $19.77 and a 200 day simple moving average of $19.43. The company has a market cap of $9.68 billion, a P/E ratio of 38.40, a P/E/G ratio of 0.66 and a beta of 1.16.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, December 5th. Alamos Gold’s payout ratio is 16.67%.

Hedge Funds Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Old West Investment Management LLC lifted its holdings in shares of Alamos Gold by 11.0% during the 3rd quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock worth $9,689,000 after acquiring an additional 48,128 shares during the period. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Alamos Gold during the 3rd quarter valued at about $1,196,000. CWA Asset Management Group LLC bought a new position in Alamos Gold during the 3rd quarter valued at about $793,000. Canoe Financial LP bought a new position in Alamos Gold during the 4th quarter valued at about $4,066,000. Finally, National Bank of Canada FI lifted its holdings in Alamos Gold by 18.4% during the 3rd quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock valued at $30,492,000 after purchasing an additional 237,278 shares during the last quarter. 64.33% of the stock is owned by 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.