Alamos Gold Inc. (NYSE:AGI) Stock Has Average Target Price of $47.50

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $47.50.

Several equities research analysts have commented on AGI shares. Bank of America dropped their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings raised Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Jefferies Financial Group lowered their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Zacks Research downgraded Alamos Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in shares of Alamos Gold by 41.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after buying an additional 1,216,977 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Alamos Gold in the second quarter worth about $21,043,000. Bradley Foster & Sargent Inc. CT boosted its stake in Alamos Gold by 52.2% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 1,026,135 shares of the basic materials company’s stock worth $45,591,000 after purchasing an additional 351,713 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of Alamos Gold in the first quarter worth $13,332,000. Finally, Swiss National Bank boosted its position in Alamos Gold by 26.8% during the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock worth $62,782,000 after acquiring an additional 298,900 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Stock Performance

Shares of AGI stock opened at $29.94 on Friday. Alamos Gold has a 52 week low of $27.05 and a 52 week high of $55.41. The company has a market cap of $12.53 billion, a P/E ratio of 10.81, a PEG ratio of 0.46 and a beta of 0.59. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $34.44 and a two-hundred day moving average of $35.90.

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 the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. As a group, analysts anticipate that Alamos Gold will post 2.06 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio is presently 5.78%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.