Alamos Gold (NYSE:AGI) Sets New 1-Year High – What’s Next?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.70 and last traded at $40.5540, with a volume of 335580 shares. The stock had previously closed at $38.48.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 15th. Bank of America boosted their target price on Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Finally, Desjardins started coverage on Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $43.00.

Alamos Gold Stock Up 5.1%

The firm has a market capitalization of $16.98 billion, a P/E ratio of 31.59, a PEG ratio of 0.54 and a beta of 0.63. 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 stock has a 50 day moving average of $34.34 and a 200-day moving average of $30.68.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The firm had revenue of $462.30 million during the quarter, compared to analyst estimates of $490.96 million. During the same quarter last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. Research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.2%. Alamos Gold’s payout ratio is presently 7.81%.

Hedge Funds Weigh In On Alamos Gold

A number of large investors have recently made changes to their positions in the stock. Nuveen LLC bought a new stake in shares of Alamos Gold during the 1st quarter valued at $731,000. Credit Agricole S A purchased a new position in Alamos Gold during the 1st quarter valued at about $1,515,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Alamos Gold during the first quarter valued at about $37,738,000. CW Advisors LLC purchased a new stake in shares of Alamos Gold in the first quarter worth about $539,000. Finally, Compound Planning Inc. purchased a new stake in shares of Alamos Gold in the first quarter worth about $318,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.