Renaissance Technologies LLC recently announced the acquisition of new stake in Alamos Gold Inc. (NYSE:AGI). The institutional investor has increased its shareholding in the Basic Materials company by 0.23% to 13.23 million shares with purchase of 30485.0 shares. This fresh investment now brings its stake to 3.39% valued currently at $140.26 million. In addition, RBC Global Asset Management, Inc. raised its holdings by 1.76 million to 9.55 million shares. And Arrowstreet Capital LP has lifted its position by 3.24% or 0.2 million shares – to 6.33 million shares.
With over 2.32 million Alamos Gold Inc. (AGI) shares trading Tuesday and a closing price of $10.17 on the day, the dollar volume was approximately $23.57 million. The shares have shown a positive weekly performance of 3.04% and its price on 09/01/20 lost nearly -2.77%. Currently, there are 399.64M common shares owned by the public and among those 389.74M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for AGI have a consensus price objective of $12.87. The analysts have set the share’s price value over the next 12 months at a high of $15.33 and a low of $10.57 should the stock experience a downside. Incidentally, analysts’ outlook for the Alamos Gold Inc. stock is 2.20 for the next 12 months. The average price target is -15.31% below its last price level and a downside to the estimated low will see the stock gain 3.78% over that period. But an upside of 33.66% will see the stock hit the forecast high price target while mean target price for the stock is $13.22.
The top 3 mutual fund holders in Alamos Gold Inc. are BlackRock Global Funds – World Go, VanEck Vectors – Gold Miners ETF, and VanEck Vectors – Junior Gold Mine. BlackRock Global Funds – World Go owns 29.18 million shares of the company’s stock, all valued at over $309.32 million. The company sold -1.08 million shares recently to bring their total holdings to about 7.47% of the shares outstanding. VanEck Vectors – Gold Miners ETF bought 64038.0 shares to see its total holdings expand to 21.08 million shares valued at over $223.42 million and representing 5.39% of the shares outstanding. VanEck Vectors – Junior Gold Mine bought 0.18 million shares to bring its total holdings to over 13.31 million shares at a value of $141.12 million. VanEck Vectors – Junior Gold Mine now owns shares totaling to 3.41% of the shares outstanding.
Shares of Alamos Gold Inc. (NYSE: AGI) opened at $10.79, up $0.33 from a prior closing price of $10.46. However, the script later closed the day at $10.17, down -2.77%. The company’s stock has a 5-day price change of 3.04% and 34.88% over the past three months. AGI shares are trading 68.94% year to date (YTD), with the 12-month market performance up to 41.84% higher. It has a 12-month low price of $3.34 and touched a high of $11.58 over the same period. Currently, 2.32 million shares have been traded, compared to an average intraday trading volume of 3.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.35%, 0.52%, and 38.29% respectively.
Institutional ownership of Alamos Gold Inc. (NYSE: AGI) shares accounts for 81.79% of the company’s 399.64M shares outstanding. Mutual fund holders own -0.29%, while other institutional holders and individual stakeholders account for 57.39% and — respectively.
It has a market capitalization of $4.06B. The stock’s trailing 12-month PE ratio is 73.17, while the earnings-per-share (ttm) stands at $0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.25% over the week and 4.37% over the month.
Analysts forecast that Alamos Gold Inc. (AGI) will achieve an EPS of $0.05 for the current quarter, $0.05 for the next quarter and $0.31 for 2019. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 53.80%, and 55.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Alamos Gold Inc. (AGI) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 3 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AGI, a number of firms have released research notes about the stock. National Bank Financial stated their Outperform rating for the stock in a research note on April 23, 2020, with the firm’s price target at. BofA/Merrill coverage for the Alamos Gold Inc. (AGI) stock in a research note released on March 12, 2020 offered a Underperform rating with a price target of. Credit Suisse was of a view on January 16, 2020 that the stock is Neutral, while RBC Capital Mkts gave the stock Sector Perform rating on December 05, 2019, issuing a price target of. National Bank Financial on their part issued Sector Perform rating on March 21, 2019.