Alamos Gold Inc. to Post Q1 2024 Earnings of $0.12 Per Share, Desjardins Forecasts (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at Desjardins issued their Q1 2024 earnings per share estimates for Alamos Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the basic materials company will post earnings of $0.12 per share for the quarter. The consensus estimate for Alamos Gold’s current full-year earnings is $0.66 per share.

AGI has been the subject of several other research reports. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and upped their price target for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. Royal Bank of Canada upped their price target on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Financial Group upped their price target on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Stock Up 0.4 %

NYSE AGI opened at $15.19 on Thursday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 3.68 and a beta of 1.15. Alamos Gold has a 52 week low of $10.78 and a 52 week high of $16.01. The business has a 50 day moving average price of $13.66 and a 200-day moving average price of $13.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $277.60 million during the quarter, compared to the consensus estimate of $271.15 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.66%. Alamos Gold’s dividend payout ratio is presently 18.87%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its stake in Alamos Gold by 9.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company’s stock worth $40,525,000 after purchasing an additional 258,688 shares during the period. Ninety One UK Ltd raised its holdings in shares of Alamos Gold by 84.9% during the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock valued at $40,580,000 after buying an additional 1,378,456 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Alamos Gold by 74.5% during the 4th quarter. Raymond James & Associates now owns 472,938 shares of the basic materials company’s stock valued at $6,370,000 after buying an additional 201,905 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Alamos Gold by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,202,762 shares of the basic materials company’s stock valued at $160,349,000 after buying an additional 202,396 shares in the last quarter. Finally, Genus Capital Management Inc. raised its holdings in shares of Alamos Gold by 367.0% during the 3rd quarter. Genus Capital Management Inc. now owns 326,000 shares of the basic materials company’s stock valued at $3,694,000 after buying an additional 256,200 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.