FY2024 EPS Estimates for Alamos Gold Lifted by Analyst

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Alamos Gold in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the basic materials company will post earnings per share of $0.84 for the year, up from their previous forecast of $0.65. 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 $1.14 EPS.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 4th. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Scotiabank raised 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $25.06.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $20.79 on Friday. The firm has a fifty day moving average of $19.84 and a two-hundred day moving average of $17.51. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 0.86 and a beta of 1.18. Alamos Gold has a 52 week low of $11.24 and a 52 week high of $21.45.

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 the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. During the same quarter in the previous year, the company earned $0.15 EPS. Alamos Gold’s revenue was up 27.4% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in Alamos Gold by 147.6% in 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 in the last quarter. Van ECK Associates Corp boosted its holdings in Alamos Gold by 8.3% during the first 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 last quarter. Price T Rowe Associates Inc. MD grew its position in Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after purchasing an additional 2,756,759 shares in the last quarter. CIBC Asset Management Inc lifted its position in Alamos Gold by 311.9% during 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 buying an additional 2,051,935 shares in the last quarter. Finally, Triasima Portfolio Management inc. boosted its stake in shares of Alamos Gold by 328.2% during the 2nd quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock worth $21,779,000 after buying an additional 1,064,629 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Thursday, September 12th. Alamos Gold’s dividend payout ratio is 19.23%.

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.