Alamos Gold Inc. (NYSE:AGI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) have been given an average rating of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $47.50.

AGI has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Bank of America dropped their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd.

Alamos Gold Trading Down 1.9%

Shares of Alamos Gold stock opened at $36.96 on Friday. The stock has a market capitalization of $15.47 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.51 and a beta of 0.61. Alamos Gold has a 52-week low of $27.05 and a 52-week high of $55.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The stock’s 50-day simple moving average is $32.16 and its 200 day simple moving average is $39.09.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. As a group, research analysts anticipate that Alamos Gold will post 2.12 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Alamos Gold’s dividend payout ratio is currently 5.78%.

Hedge Funds Weigh In On Alamos Gold

Large investors have recently modified their holdings of the company. Swiss National Bank lifted its stake in Alamos Gold by 26.8% in the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock worth $62,782,000 after purchasing an additional 298,900 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Alamos Gold by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after purchasing an additional 141,000 shares in the last quarter. DJE Kapital AG grew its position in shares of Alamos Gold by 66.2% during the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock valued at $12,665,000 after purchasing an additional 118,006 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Alamos Gold by 41.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after purchasing an additional 1,216,977 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in shares of Alamos Gold in the first quarter worth $13,332,000. 64.33% of the stock is currently owned by institutional investors.

About Alamos Gold

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.