Alamos Gold (NYSE:AGI) Reaches New 1-Year High - Here's What Happened

Key Points

• Alamos Gold's shares reached a new 12-month high of $33.93, with a recent trading price of $33.50, reflecting robust investor interest.
• The company reported earnings of $0.34 per share for the last quarter, beating the consensus estimate and achieving a 31.7% increase in revenue year-over-year.
• Alamos Gold has declared a quarterly dividend of $0.025 per share, which translates to an annual yield of 0.3% and has a payout ratio of 12.05%.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $33.93 and last traded at $33.50, with a volume of 1052107 shares changing hands. The stock had previously closed at $32.96.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AGI shares. Stifel Nicolaus started coverage on shares of Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday. National Bankshares reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $30.38.

Alamos Gold Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $13.60 billion, a PE ratio of 38.96, a P/E/G ratio of 0.64 and a beta of 0.55. The stock's 50 day simple moving average is $28.18 and its two-hundred day simple moving average is $27.05.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted 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 net margin of 22.99% and a return on equity of 10.67%. The company had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. During the same quarter last year, the firm posted $0.24 earnings per share. Alamos Gold's revenue was up 31.7% on a year-over-year basis. As a group, research analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share 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 issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 11th. Alamos Gold's dividend payout ratio (DPR) is presently 12.05%.

Institutional Investors Weigh In On Alamos Gold

Large investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in Alamos Gold during the 2nd quarter valued at $30,000. Banque Transatlantique SA bought a new stake in shares of Alamos Gold in the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new stake in shares of Alamos Gold in the 1st quarter worth about $41,000. SBI Securities Co. Ltd. increased its position in shares of Alamos Gold by 67.0% in the 1st 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 bought a new stake in shares of Alamos Gold in the 1st quarter worth about $67,000. 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.