Alamos Gold (NYSE:AGI) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Alamos Gold has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the stock.
• Approximately 64.33% of Alamos Gold's stock is owned by institutional investors, indicating strong institutional support.
• The company reported a 31.7% year-over-year increase in revenue for the last quarter, alongside an earnings per share of $0.34, surpassing analysts' expectations.

Wall Street Zen upgraded shares of Alamos Gold (NYSE:AGI - Free Report) TSE: AGI from a hold rating to a buy rating in a report issued on Saturday.

Other research analysts have also recently issued reports about the company. CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a research report on Monday, April 14th. Stifel Nicolaus began coverage on Alamos Gold in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Bank of America decreased their target price on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alamos Gold has a consensus rating of "Buy" and an average price target of $30.38.

Alamos Gold Stock Up 2.1%

Shares of NYSE:AGI traded up $0.52 on Friday, hitting $24.82. 4,965,624 shares of the company's stock were exchanged, compared to its average volume of 3,480,920. The firm's 50-day moving average is $26.33 and its 200 day moving average is $25.27. The company has a market capitalization of $10.43 billion, a PE ratio of 29.90, a P/E/G ratio of 0.55 and a beta of 0.51. Alamos Gold has a 1-year low of $15.74 and a 1-year high of $31.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49.

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

Alamos Gold Announces Dividend

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

Institutional Trading of Alamos Gold

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC purchased a new position in shares of Alamos Gold during the 2nd quarter worth approximately $30,000. Banque Transatlantique SA purchased a new position in shares of Alamos Gold during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Alamos Gold during the 1st quarter worth approximately $41,000. SBI Securities Co. Ltd. raised its stake in shares of Alamos Gold by 67.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after buying an additional 660 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Alamos Gold during the 1st quarter worth approximately $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.