Alamos Gold (NYSE:AGI) Hits New 52-Week High – Time to Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $51.00 and last traded at $49.9970, with a volume of 2476234 shares traded. The stock had previously closed at $50.56.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AGI shares. Scotiabank boosted 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. Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a research note on Sunday, December 7th. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $45.50.

Alamos Gold Stock Performance

The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 0.49 and a beta of 0.61. The firm’s 50 day moving average is $41.84 and its 200-day moving average is $35.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted 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 net margin of 48.97% and a return on equity of 14.83%. The firm had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 53.1% on a year-over-year basis. Sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.04 dividend. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.3%. Alamos Gold’s dividend payout ratio is presently 4.76%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGI. Virtu Financial LLC acquired a new stake in shares of Alamos Gold in the fourth quarter worth $370,000. Alpine Woods Capital Investors LLC raised its holdings in Alamos Gold by 285.2% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 26,965 shares of the basic materials company’s stock worth $1,040,000 after acquiring an additional 19,965 shares during the period. Vident Advisory LLC lifted its position in Alamos Gold by 255.3% during the 4th quarter. Vident Advisory LLC now owns 62,619 shares of the basic materials company’s stock worth $2,416,000 after acquiring an additional 44,996 shares during the last quarter. Coastal Bridge Advisors LLC boosted its holdings in Alamos Gold by 1.8% during the fourth quarter. Coastal Bridge Advisors LLC now owns 16,907 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 300 shares during the period. Finally, Grand Central Investment Group acquired a new stake in shares of Alamos Gold in the fourth quarter valued at about $5,650,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

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.