Brokers Offer Predictions for Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Alamos Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib forecasts that the basic materials company will earn $0.81 per share for the year. The consensus estimate for Alamos Gold’s current full-year earnings is $0.77 per share. Scotiabank also issued estimates for Alamos Gold’s FY2025 earnings at $1.18 EPS.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The firm had revenue of $360.90 million during the quarter.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Buy” and an average target price of $25.06.

Alamos Gold Price Performance

NYSE:AGI opened at $19.50 on Friday. Alamos Gold has a one year low of $11.24 and a one year high of $21.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 0.93 and a beta of 1.15. The firm’s fifty day moving average is $18.83 and its two-hundred day moving average is $18.77.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.025 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. Alamos Gold’s payout ratio is 16.67%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its stake 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 acquiring an additional 4,521,282 shares during the last quarter. CIBC Asset Management Inc grew its position in Alamos Gold by 79.3% in the third quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company’s stock valued at $97,336,000 after acquiring an additional 2,149,915 shares in the last quarter. FMR LLC boosted its stake in shares of Alamos Gold by 50.8% during the 3rd quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after buying an additional 2,148,153 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Alamos Gold by 19.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company’s stock valued at $110,662,000 after buying an additional 891,255 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Alamos Gold by 140.4% during the second quarter. 1832 Asset Management L.P. now owns 1,470,777 shares of the basic materials company’s stock worth $23,062,000 after purchasing an additional 858,977 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

About Alamos Gold

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.