Alamos Gold Inc. (NYSE:AGI) Receives $19.75 Average Price Target from Analysts

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $19.75.

Several research analysts have issued reports on the company. Scotiabank upped their price target on Alamos Gold from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Jefferies Financial Group lifted their price objective on shares of Alamos Gold from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada lifted their price objective on shares of Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 23rd. Finally, Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th.

Alamos Gold Stock Performance

NYSE AGI opened at $16.51 on Monday. The stock has a market capitalization of $6.93 billion, a P/E ratio of 31.75, a P/E/G ratio of 0.74 and a beta of 1.16. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $17.91. The business’s fifty day moving average is $16.45 and its two-hundred day moving average is $14.61.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, June 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Alamos Gold by 8.3% in the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after acquiring an additional 4,009,220 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alamos Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after acquiring an additional 250,207 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 buying an additional 2,756,759 shares during the last quarter. Norges Bank acquired a new position in Alamos Gold during the fourth quarter worth $64,117,000. Finally, Bank of New York Mellon Corp increased its position in Alamos Gold by 31.9% during the second quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock worth $68,576,000 after buying an additional 1,058,000 shares during the last quarter. 64.33% of the stock is 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.