Alamos Gold (AGI) Receives a Buy from Canaccord Genuity

In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Alamos Gold (AGIResearch Report), with a price target of C$12.00. The company’s shares closed last Tuesday at $8.83.

According to TipRanks.com, Baretto is a 5-star analyst with an average return of 33.0% and a 60.2% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.

Alamos Gold has an analyst consensus of Moderate Buy, with a price target consensus of $10.50.

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Based on Alamos Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $227 million and net profit of $51.2 million. In comparison, last year the company earned revenue of $177 million and had a GAAP net loss of $12.3 million.

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Alamos Gold, Inc. engages in the exploration, development, mining, and extraction of precious metals. It operates through the following segments: Young-Davidson, Mulatos, Island Gold, Elchanate, Kirazli, and Corporate and Other. The company was founded on February 21, 2003 and is headquartered in Toronto, Canada.