Alamos Gold Inc. (NYSE:AGI) Announces $0.04 Quarterly Dividend

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) announced a quarterly dividend on Thursday, May 28th. Stockholders of record on Thursday, June 11th will be given a dividend of 0.04 per share by the basic materials company on Thursday, June 25th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 11th.

Alamos Gold has raised its dividend by an average of 0.1%annually over the last three years. Alamos Gold has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Alamos Gold to earn $3.12 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.1%.

Alamos Gold Trading Up 2.9%

Shares of NYSE:AGI traded up $1.13 during midday trading on Thursday, hitting $39.61. 3,233,746 shares of the stock were exchanged, compared to its average volume of 2,955,176. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.50 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The business’s 50-day moving average price is $43.13 and its 200 day moving average price is $41.86. Alamos Gold has a 12 month low of $23.92 and a 12 month high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. Analysts predict that Alamos Gold will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings lowered Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Wall Street Zen lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Finally, Scotiabank lifted their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $50.67.

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.