Alamos Gold (NYSE:AGI) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a strong-buy rating to a buy rating in a report released on Sunday.

Several other equities analysts also recently commented on AGI. Jefferies Financial Group reissued a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a research report on Sunday, December 7th. Zacks Research downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, Desjardins started coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Price Performance

NYSE AGI opened at $52.27 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $21.95 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.76 and a beta of 0.55. The company has a 50 day moving average price of $42.98 and a two-hundred day moving average price of $36.77. Alamos Gold has a 12-month low of $22.76 and a 12-month high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly 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. The company had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. Alamos Gold’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, equities analysts predict that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders 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 of this dividend is Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is 4.76%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after acquiring an additional 11,876,324 shares during the period. Norges Bank acquired a new stake in Alamos Gold in the 4th quarter valued at $219,475,000. Geode Capital Management LLC grew its position in Alamos Gold by 639.2% in the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares during the period. CIBC Asset Management Inc grew 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 valued at $296,623,000 after acquiring an additional 2,521,347 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Alamos Gold by 32.3% during the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock worth $238,990,000 after acquiring an additional 2,192,593 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.