Alamos Gold (NYSE:AGI) Sets New 12-Month High – Should You Buy?

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $38.55 and last traded at $38.7530, with a volume of 1207535 shares traded. The stock had previously closed at $37.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Desjardins assumed coverage on shares of Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Wall Street Zen raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Bank of America increased their price target on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday. Finally, Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $43.00.

Alamos Gold Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The company has a market cap of $16.18 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63. The company’s 50 day moving average price is $33.76 and its 200-day moving average price is $30.08.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The business had revenue of $462.30 million during the quarter, compared to analyst estimates of $490.96 million. During the same period in the prior year, the company earned $0.19 earnings per share. Alamos Gold’s revenue was up 28.1% compared to the same quarter last year. Equities research analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.10 annualized dividend and a yield of 0.3%. Alamos Gold’s dividend payout ratio (DPR) is 7.81%.

Institutional Investors Weigh In On Alamos Gold

Institutional investors have recently added to or reduced their stakes in the business. Addenda Capital Inc. grew its stake in Alamos Gold by 12.3% in the 2nd quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after buying an additional 212,918 shares in the last quarter. Calamos Wealth Management LLC bought a new position in shares of Alamos Gold in the second quarter worth $3,070,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Alamos Gold in the second quarter valued at $1,502,000. PCJ Investment Counsel Ltd. raised its stake in shares of Alamos Gold by 37.9% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after purchasing an additional 23,560 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Alamos Gold by 20.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 2,493 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.