National Bank Financial Comments on Alamos Gold Q3 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Alamos Gold in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the basic materials company will post earnings of $0.21 per share for the quarter. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.75 per share.

A number of other brokerages have also weighed in on AGI. Royal Bank of Canada boosted their price objective 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. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group upped their price objective on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank upped their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.06.

Alamos Gold Stock Down 0.0 %

Shares of AGI opened at $21.09 on Thursday. The business’s 50 day moving average price is $19.80 and its 200-day moving average price is $17.47. Alamos Gold has a 52 week low of $11.24 and a 52 week high of $21.45. The stock has a market cap of $8.42 billion, a P/E ratio of 40.56, a P/E/G ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The firm had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in shares of Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after buying an additional 4,521,282 shares in the last quarter. Van ECK Associates Corp raised its position in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after purchasing an additional 4,009,220 shares during the period. Price T Rowe Associates Inc. MD raised its position in Alamos Gold by 71.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. CIBC Asset Management Inc raised its position in Alamos Gold by 311.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock worth $42,480,000 after purchasing an additional 2,051,935 shares during the period. Finally, Triasima Portfolio Management inc. increased its position in shares of Alamos Gold by 328.2% during the second quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock worth $21,779,000 after acquiring an additional 1,064,629 shares during the period. 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.