Alamos Gold (NYSE:AGI) Hits New 12-Month High – Here’s Why

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $43.95 and last traded at $43.3490, with a volume of 438554 shares. The stock had previously closed at $42.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Thursday, October 23rd. Desjardins began coverage on shares of Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating on the stock. Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research report on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $43.00.

Alamos Gold Stock Up 3.4%

The firm has a 50-day moving average price of $38.12 and a two-hundred day moving average price of $32.90. The company has a market capitalization of $18.31 billion, a P/E ratio of 33.98, a PEG ratio of 0.37 and a beta of 0.63. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $462.30 million during the quarter, compared to analysts’ expectations of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Equities research analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) is presently 7.81%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Alamos Gold by 35.3% during the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock worth $1,587,666,000 after purchasing an additional 11,876,324 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 3.1% in the third 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 in the last quarter. CIBC Asset Management Inc lifted its position in Alamos Gold by 29.3% in the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock worth $296,623,000 after purchasing an additional 2,521,347 shares during the period. Mackenzie Financial Corp boosted its stake in Alamos Gold by 6.3% during the third quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock worth $332,724,000 after buying an additional 567,926 shares in the last quarter. Finally, Norges Bank bought a new stake in Alamos Gold in the 2nd quarter valued at $144,808,000. 64.33% of the stock is currently owned by 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.