Alamos Gold (NYSE:AGI) Reaches New 12-Month High - Time to Buy?

Key Points

• Alamos Gold Inc. (NYSE:AGI) shares have reached a new 12-month high of $32.89, suggesting strong trading activity and investor interest.
• Analysts show a consensus rating of "Buy" for Alamos Gold, with two analysts giving a Strong Buy rating and an average price target set at $30.38.
• The company has announced a quarterly dividend of $0.025, resulting in an annualized yield of 0.3% and a payout ratio of 12.05%.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI shares reached a new 52-week high during trading on Monday . The company traded as high as $32.89 and last traded at $32.79, with a volume of 32223 shares changing hands. The stock had previously closed at $32.19.

Analysts Set New Price Targets

A number of research firms have commented on AGI. Stifel Nicolaus began coverage on Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating for the company. National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold Trading Up 1.5%

The firm has a 50 day simple moving average of $27.05 and a 200 day simple moving average of $26.45. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $13.73 billion, a PE ratio of 39.31, a P/E/G ratio of 0.70 and a beta of 0.55.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The business had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. During the same period last year, the business posted $0.24 EPS. The company's revenue was up 31.7% compared to the same quarter last year. Equities analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 11th. Alamos Gold's dividend payout ratio (DPR) is 12.05%.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors and hedge funds have recently modified their holdings of AGI. Norges Bank purchased a new position in Alamos Gold in the second quarter worth about $144,808,000. Geode Capital Management LLC raised its stake in shares of Alamos Gold by 639.2% during the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company's stock valued at $91,379,000 after acquiring an additional 2,923,478 shares in the last quarter. CIBC Asset Management Inc raised its stake in Alamos Gold by 29.3% in the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company's stock worth $296,623,000 after buying an additional 2,521,347 shares in the last quarter. Mackenzie Financial Corp raised its stake in Alamos Gold by 32.3% in the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company's stock worth $238,990,000 after buying an additional 2,192,593 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Alamos Gold during the first quarter worth $37,738,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

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.

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