Alamos Gold Inc. (NYSE:AGI) Receives Average Rating of "Buy" from Analysts

Key Points

• Alamos Gold Inc. has received an average consensus recommendation of "Buy" from nine analysts, with projections suggesting a target price of $30.38 per share.
• The company reported Q2 earnings of $0.34 per share, surpassing analyst expectations and showing a 31.7% year-over-year increase in revenue, totaling $438.2 million.
• Institutional investors own 64.33% of Alamos Gold's shares, with significant increases in holdings reported by firms such as Vanguard and CIBC Asset Management.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI has earned an average recommendation of "Buy" from the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.3750.

AGI has been the topic of several research analyst reports. Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus began coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating for the company.

Alamos Gold Stock Performance

Shares of NYSE:AGI traded up $0.82 during trading on Tuesday, hitting $30.47. 2,989,189 shares of the stock traded hands, compared to its average volume of 3,437,335. The company has a fifty day moving average price of $26.41 and a two-hundred day moving average price of $26.04. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. Alamos Gold has a 52-week low of $17.42 and a 52-week high of $31.00. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 0.65 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 for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company had revenue of $438.20 million during the quarter, compared to analysts' expectations of $400.61 million. During the same quarter in the prior year, the firm posted $0.24 EPS. Alamos Gold's quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts predict that Alamos Gold will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 11th. Alamos Gold's payout ratio is presently 12.05%.

Institutional Investors Weigh In On Alamos Gold

Large investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new stake in shares of Alamos Gold in the second quarter valued at approximately $30,000. Banque Transatlantique SA purchased a new stake in shares of Alamos Gold in the first quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold in the first quarter valued at about $41,000. SBI Securities Co. Ltd. increased its position in Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after purchasing an additional 660 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in Alamos Gold in the first quarter worth approximately $67,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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.