Brokerages Set Alamos Gold Inc. (NYSE:AGI) PT at $47.50

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $47.50.

Several research analysts recently commented on AGI shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Bank of America cut their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Jefferies Financial Group dropped their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th.

Alamos Gold Trading Up 0.7%

NYSE AGI opened at $35.90 on Friday. Alamos Gold has a 52 week low of $27.05 and a 52 week high of $55.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The stock’s 50 day moving average price is $32.71 and its two-hundred day moving average price is $38.78. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.48 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. During the same period last year, the business earned $0.34 EPS. The business’s quarterly revenue was up 35.6% on a year-over-year basis. As a group, analysts anticipate that Alamos Gold will post 2.12 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold’s dividend payout ratio is currently 5.78%.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold in the fourth quarter valued at $25,000. Clearstead Advisors LLC raised its holdings in shares of Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Alamos Gold by 44.4% in the 4th 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 1st quarter valued at about $35,000. Finally, Sunbelt Securities Inc. acquired a new stake in Alamos Gold in the 1st quarter valued at about $59,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold’s principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.