Alamos Gold Inc. (NYSE:AGI) Receives Consensus Recommendation of “Buy” from Analysts

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) has received a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.6667.

AGI has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Weiss Ratings lowered shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Finally, Scotiabank lifted their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th.

Hedge Funds Weigh In On Alamos Gold

Institutional investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new position in shares of Alamos Gold during the 4th quarter valued at approximately $25,000. Clearstead Advisors LLC grew its stake in Alamos Gold by 62.8% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Smartleaf Asset Management LLC grew its stake in Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Parallel Advisors LLC acquired a new stake in Alamos Gold in the 1st quarter valued at $35,000. Finally, Bayforest Capital Ltd acquired a new stake in Alamos Gold in the 4th quarter valued at $44,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

AGI opened at $39.61 on Thursday. Alamos Gold has a 12-month low of $23.92 and a 12-month high of $55.41. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $16.63 billion, a PE ratio of 15.78, a P/E/G ratio of 0.53 and a beta of 0.49. The firm has a 50 day moving average of $43.11 and a two-hundred day moving average of $41.96.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company had revenue of $596.70 million during the quarter, compared to analyst estimates of $612.35 million. During the same period last year, the firm posted $0.14 EPS. Alamos Gold’s revenue for the quarter was up 79.2% compared to the same quarter last year. On average, analysts anticipate that Alamos Gold will post 2.46 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 11th. Alamos Gold’s payout ratio is 6.37%.

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.