Royal Bank Of Canada Analysts Give Alamos Gold Inc. (AGI) a $9.00 Price Target

Royal Bank Of Canada set a $9.00 target price on Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in a research note released on Tuesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Alamos Gold from a hold rating to a sell rating in a research note on Monday, September 11th. BidaskClub raised shares of Alamos Gold from a sell rating to a hold rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of Alamos Gold from a sell rating to a hold rating in a research note on Tuesday, August 8th. National Bank Financial reaffirmed an outperform market weight rating on shares of Alamos Gold in a research note on Sunday, July 23rd. Finally, Raymond James Financial, Inc. reaffirmed an ourperform rating and issued a $12.00 price objective on shares of Alamos Gold in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Alamos Gold currently has an average rating of Hold and an average target price of $10.67.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Alamos Gold had a negative net margin of 2.61% and a positive return on equity of 0.44%. The company had revenue of $131.30 million during the quarter, compared to analysts’ expectations of $125.71 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 9.3% on a year-over-year basis.

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The company also recently declared a Semi-Annual dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a yield of 0.3%. Alamos Gold’s payout ratio is currently -39.99%.

A number of institutional investors and hedge funds have recently made changes to their positions in AGI. Russell Investments Group Ltd. boosted its position in Alamos Gold by 12.3% during the 1st quarter. Russell Investments Group Ltd. now owns 274,540 shares of the basic materials company’s stock valued at $2,199,000 after buying an additional 30,112 shares during the period. Comerica Bank boosted its position in Alamos Gold by 1.6% during the 1st quarter. Comerica Bank now owns 15,265 shares of the basic materials company’s stock valued at $108,000 after buying an additional 234 shares during the period. Sei Investments Co. boosted its position in Alamos Gold by 1,410.9% during the 1st quarter. Sei Investments Co. now owns 46,202 shares of the basic materials company’s stock valued at $371,000 after buying an additional 43,144 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Alamos Gold by 3.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 19,353 shares of the basic materials company’s stock valued at $155,000 after buying an additional 594 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Alamos Gold by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,367,469 shares of the basic materials company’s stock valued at $19,011,000 after buying an additional 224,132 shares during the period. 63.26% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Company Profile

Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.

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