Alamos Gold (NYSE:AGI) Reaches New 1-Year 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%.

Shares of 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 $32.89 and last traded at $32.79, with a volume of 32223 shares traded. The stock had previously closed at $32.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, CIBC restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Two equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Stock Up 0.2%

The company's 50 day moving average price is $27.65 and its two-hundred day moving average price is $26.74. The firm has a market cap of $13.87 billion, a PE ratio of 39.72, a PEG ratio of 0.72 and a beta of 0.55. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

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

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders 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 dividend payout ratio (DPR) is presently 12.05%.

Institutional Trading of Alamos Gold

Several institutional investors and hedge funds have recently modified their holdings of AGI. Norges Bank bought a new stake in shares of Alamos Gold during the 2nd quarter valued at $144,808,000. Geode Capital Management LLC increased its holdings in Alamos Gold by 639.2% in the 2nd 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 during the last quarter. CIBC Asset Management Inc increased its holdings in Alamos Gold by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company's stock valued at $296,623,000 after acquiring an additional 2,521,347 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Alamos Gold by 32.3% in the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company's stock valued at $238,990,000 after acquiring an additional 2,192,593 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Alamos Gold in the 1st quarter valued at $37,738,000. 64.33% of the stock is currently owned by 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.