Alamos Gold Inc. (NYSE:AGI) Given Average Rating of “Buy” by Brokerages

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) has been given an average recommendation of “Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $45.50.

AGI has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Scotiabank increased their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Jefferies Financial Group restated a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a research note on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st.

Alamos Gold Stock Down 5.6%

AGI stock opened at $45.81 on Friday. The business has a 50 day moving average of $44.62 and a 200 day moving average of $37.88. The firm has a market cap of $19.23 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 0.65 and a beta of 0.55. Alamos Gold has a twelve month low of $23.49 and a twelve month 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.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 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 business had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. On average, research analysts forecast that Alamos Gold will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.04 dividend. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.3%. Alamos Gold’s payout ratio is currently 7.62%.

Institutional Trading of Alamos Gold

Several institutional investors have recently added to or reduced their stakes in AGI. Atlantic Union Bankshares Corp bought a new stake in shares of Alamos Gold during the 4th quarter valued at about $25,000. Clearstead Advisors LLC grew its position in Alamos Gold by 62.8% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after buying an additional 251 shares during the period. Smartleaf Asset Management LLC grew its position in Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after buying an additional 222 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alamos Gold during the third quarter valued at approximately $35,000. Finally, Bayforest Capital Ltd purchased a new stake in Alamos Gold during the fourth quarter valued at approximately $44,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

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.