Alamos Gold (NYSE:AGI) Sets New 1-Year High on Analyst Upgrade

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares reached a new 52-week high on Friday after Jefferies Financial Group raised their price target on the stock from $21.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Alamos Gold traded as high as $20.78 and last traded at $20.78, with a volume of 70534 shares traded. The stock had previously closed at $20.06.

Several other research firms have also recently weighed in on AGI. National Bank Financial cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada lifted their price target on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank raised their price objective on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Alamos Gold has an average rating of “Moderate Buy” and a consensus target price of $23.81.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baldwin Brothers LLC MA acquired a new position in Alamos Gold during the second quarter valued at $47,000. Daiwa Securities Group Inc. acquired a new position in shares of Alamos Gold in the 2nd quarter valued at about $48,000. Employees Retirement System of Texas purchased a new stake in shares of Alamos Gold in the second quarter worth about $88,000. St. Johns Investment Management Company LLC acquired a new stake in Alamos Gold during the first quarter worth about $115,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in Alamos Gold during the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 0.82 and a beta of 1.18. The business’s 50 day moving average price is $18.08 and its 200 day moving average price is $16.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. Alamos Gold’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. Sell-side analysts anticipate that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.48%. Alamos Gold’s dividend payout ratio is currently 19.23%.

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.