Royal Bank of Canada Forecasts Strong Price Appreciation for Alamos Gold (NYSE:AGI) Stock

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target boosted by equities research analysts at Royal Bank of Canada from $25.00 to $27.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.71% from the stock’s previous close.

AGI has been the topic of a number of other reports. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. National Bank Financial raised 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, According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Buy” and an average price target of $26.06.

Alamos Gold Stock Performance

Alamos Gold stock traded down $0.07 during mid-day trading on Tuesday, reaching $22.75. 1,294,112 shares of the company’s stock were exchanged, compared to its average volume of 2,007,812. The business’s fifty day simple moving average is $19.64 and its 200 day simple moving average is $19.36. The firm has a market capitalization of $9.56 billion, a PE ratio of 37.96, a P/E/G ratio of 0.66 and a beta of 1.16. Alamos Gold has a one year low of $11.24 and a one year high of $23.06. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Alamos Gold by 155.7% during the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 1,157 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Alamos Gold by 51.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock worth $46,000 after buying an additional 856 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of Alamos Gold in the 3rd quarter worth approximately $47,000. R Squared Ltd bought a new position in Alamos Gold in the 4th quarter valued at approximately $61,000. Finally, Eastern Bank bought a new position in Alamos Gold in the 3rd quarter valued at approximately $111,000. Institutional investors own 64.33% of the company’s stock.

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.