Alamos Gold Inc. (NYSE:AGI) Receives $47.50 Average Price Target from Analysts

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $47.50.

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Weiss Ratings cut Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price objective on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th.

Alamos Gold Trading Down 3.9%

AGI opened at $29.36 on Friday. The company’s 50 day moving average is $34.11 and its 200-day moving average is $40.79. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The company has a market cap of $12.29 billion, a P/E ratio of 11.70, a PEG ratio of 0.39 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. Equities research analysts predict that Alamos Gold will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is currently 6.37%.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new position in shares of Alamos Gold during the fourth quarter worth $25,000. Clearstead Advisors LLC grew its stake in shares of Alamos Gold by 62.7% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Parallel Advisors LLC acquired a new stake in Alamos Gold in the first quarter valued at $35,000. Finally, Bayforest Capital Ltd bought a new position in Alamos Gold during the 4th quarter worth $44,000. 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.