Brokerages Set Alamos Gold Inc. (NYSE:AGI) Price Target at $30.38

Key Points

• Alamos Gold Inc. has received a consensus rating of "Buy" from eight analysts, with an average price target of $30.38.
• Institutional investors recently increased their holdings in Alamos Gold, with Dimensional Fund Advisors LP raising their position by 296.6%, indicating strong investor confidence.
• The company reported a quarterly earnings per share (EPS) of $0.34, surpassing analyst estimates and showing a 31.7% year-over-year revenue growth.

Shares of Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI have received a consensus rating of "Buy" from the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.38.

AGI has been the subject of a number of research reports. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Stifel Nicolaus started coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Royal Bank Of Canada lifted their price target on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th.

Institutional Trading of Alamos Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in AGI. Dimensional Fund Advisors LP raised its position in shares of Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock valued at $136,011,000 after buying an additional 5,516,186 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alamos Gold in the fourth quarter valued at about $28,950,000. T. Rowe Price Investment Management Inc. acquired a new stake in Alamos Gold during the first quarter worth about $37,738,000. Goldman Sachs Group Inc. increased its position in Alamos Gold by 105.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company's stock worth $64,032,000 after purchasing an additional 1,227,695 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Alamos Gold by 19.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company's stock worth $156,780,000 after purchasing an additional 957,359 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Alamos Gold Trading Up 2.1%

Shares of NYSE:AGI traded up $0.52 on Friday, reaching $24.82. 4,965,624 shares of the company traded hands, compared to its average volume of 3,480,920. Alamos Gold has a 52 week low of $15.74 and a 52 week high of $31.00. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $26.33 and its 200 day simple moving average is $25.23. The stock has a market capitalization of $10.43 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 0.53 and a beta of 0.51.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a net margin of 22.99% and a return on equity of 10.81%. The company had revenue of $438.20 million during the quarter, compared to the consensus estimate of $400.61 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Alamos Gold's revenue was up 31.7% on a year-over-year basis. As a group, equities analysts anticipate that Alamos Gold will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, June 12th. Alamos Gold's payout ratio is presently 12.05%.

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.