Alamos Gold Inc. (AGI) to Issue Quarterly Dividend of $0.04 on March 26th

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Thursday, March 12th will be given a dividend of 0.04 per share by the basic materials company on Thursday, March 26th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, March 12th. This is a 60.0% increase from Alamos Gold’s previous quarterly dividend of $0.03.

Alamos Gold has increased its dividend by an average of 0.1%per year over the last three years. Alamos Gold has a payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alamos Gold to earn $1.16 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 13.8%.

Alamos Gold Stock Up 2.7%

Shares of NYSE AGI opened at $51.24 on Tuesday. Alamos Gold has a 52-week low of $22.77 and a 52-week high of $55.41. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $43.83 and its 200-day simple moving average is $37.45. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 0.67 and a beta of 0.54.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The company had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same period in the previous year, the firm posted $0.25 EPS. Alamos Gold’s revenue was up 53.1% compared to the same quarter last year. Equities analysts predict that Alamos Gold will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Alamos Gold by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after purchasing an additional 524,263 shares during the last quarter. Intact Investment Management Inc. raised its position in Alamos Gold by 3.8% in the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock valued at $22,928,000 after purchasing an additional 24,330 shares during the last quarter. Caldwell Investment Management Ltd. boosted its stake in shares of Alamos Gold by 143.5% during the third quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock worth $5,818,000 after buying an additional 99,000 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Alamos Gold by 29.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock valued at $51,192,000 after purchasing an additional 336,200 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Alamos Gold by 55.3% during the second quarter. Swiss National Bank now owns 1,277,936 shares of the basic materials company’s stock worth $33,860,000 after purchasing an additional 455,100 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.