Alamos Gold (NYSE:AGI) PT Raised to $22.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective lifted by Scotiabank from $20.00 to $22.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

AGI has been the subject of several other reports. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $20.00 to $21.00 and gave the company a buy rating in a research report on Friday, July 12th. Royal Bank of Canada boosted their price target on Alamos Gold from $16.00 to $18.00 and gave the company an outperform rating in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded Alamos Gold from a hold rating to a buy rating in a report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Alamos Gold currently has an average rating of Moderate Buy and a consensus target price of $22.06.

Alamos Gold Stock Performance

Shares of NYSE AGI opened at $19.86 on Monday. The business’s 50 day moving average price is $16.93 and its 200-day moving average price is $15.30. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $20.24. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 0.78 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a return on equity of 8.63% and a net margin of 17.73%. The business’s revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. Sell-side analysts predict that Alamos Gold will post 0.72 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were given a $0.025 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.50%. Alamos Gold’s payout ratio is presently 19.23%.

Institutional Trading of Alamos Gold

Several hedge funds and other institutional investors have recently bought and sold shares of AGI. Baldwin Brothers LLC MA purchased a new stake in shares of Alamos Gold during the 2nd quarter worth $47,000. Daiwa Securities Group Inc. bought a new position in Alamos Gold in the second quarter worth about $48,000. AJOVista LLC purchased a new stake in shares of Alamos Gold during the fourth quarter valued at about $83,000. Employees Retirement System of Texas purchased a new stake in shares of Alamos Gold during the second quarter valued at about $88,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Alamos Gold by 20.7% in the 1st quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.