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

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $53.00.

Several research analysts have recently commented on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Bank of America reduced their price objective on Alamos Gold from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Weiss Ratings cut Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday.

Institutional Trading of Alamos Gold

Several hedge funds have recently modified their holdings of AGI. Goldman Sachs Group Inc. raised its stake in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after acquiring an additional 1,227,695 shares in the last quarter. Empowered Funds LLC acquired a new stake in Alamos Gold in the first quarter valued at $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after buying an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Alamos Gold by 375.1% in the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after buying an additional 774,111 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after buying an additional 26,045 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Trading Down 0.1%

AGI opened at $31.29 on Monday. Alamos Gold has a 52 week low of $23.92 and a 52 week high of $55.41. The business has a fifty day simple moving average of $39.46 and a 200-day simple moving average of $41.98. The firm has a market cap of $13.12 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.42 and a beta of 0.49. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business had revenue of $596.70 million during the quarter, compared to analyst estimates of $612.35 million. During the same period last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 79.2% on a year-over-year basis. On average, equities analysts expect that Alamos Gold will post 2.38 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is presently 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.