National Bank Financial Brokers Reduce Earnings Estimates for Alamos Gold Inc. (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at National Bank Financial dropped their FY2024 EPS estimates for Alamos Gold in a report issued on Sunday, September 15th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $0.65 per share for the year, down from their prior forecast of $0.66. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2025 earnings at $0.81 EPS and FY2026 earnings at $0.77 EPS.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS 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%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Alamos Gold from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Scotiabank upped their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada raised their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.81.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $20.30 on Wednesday. The business’s 50-day moving average is $18.36 and its 200 day moving average is $16.37. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $21.14. The firm has a market capitalization of $8.10 billion, a P/E ratio of 39.04, a P/E/G ratio of 0.82 and a beta of 1.18.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s payout ratio is 19.23%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Baldwin Brothers LLC MA purchased a new position in shares of Alamos Gold in the second quarter worth about $47,000. Daiwa Securities Group Inc. purchased a new position in shares of Alamos Gold in the second quarter worth about $48,000. Employees Retirement System of Texas purchased a new position in shares of Alamos Gold in the second quarter worth about $88,000. St. Johns Investment Management Company LLC purchased a new position in shares of Alamos Gold in the first quarter worth about $115,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Alamos Gold in the first quarter worth about $203,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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.