Alamos Gold (NYSE:AGI) Stock Price Up 5.3% – Here’s Why

by · The Markets Daily

Alamos Gold Inc. (NYSE:AGIGet Free Report) (TSE:AGI)’s share price rose 5.3% on Friday . The company traded as high as $42.78 and last traded at $42.4350. Approximately 2,168,743 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 4,182,776 shares. The stock had previously closed at $40.31.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotiabank boosted their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Jefferies Financial Group restated a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Read Our Latest Stock Report on Alamos Gold

Alamos Gold Trading Up 5.4%

The business’s 50-day moving average is $44.73 and its two-hundred day moving average is $38.67. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $17.83 billion, a PE ratio of 20.22, a PEG ratio of 0.57 and a beta of 0.55.

Alamos Gold (NYSE:AGIGet Free Report) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The firm had revenue of $575.30 million during the quarter, compared to the consensus estimate of $596.18 million. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 53.1% compared to the same quarter last year. On average, analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, March 12th. Alamos Gold’s payout ratio is 7.62%.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $25,000. Clearstead Advisors LLC lifted its position in shares of Alamos Gold by 62.8% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alamos Gold in the third quarter valued at $35,000. Finally, Bayforest Capital Ltd acquired a new stake in Alamos Gold during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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