Alamos Gold (NYSE:AGI) Sets New 52-Week High - Time to Buy?

Key Points

• Alamos Gold Inc. shares reached a new 52-week high of $31.32, trading last at $30.64, with a significant trading volume of 206,435 shares.
• Despite positive ratings from multiple analysts, including a "strong-buy" rating from Stifel Canada, Wall Street Zen downgraded the stock from "buy" to "hold," indicating mixed sentiment among analysts.
• The company announced a quarterly dividend of $0.025 per share, reflecting a yield of 0.3% and a payout ratio of 12.05%, aimed at rewarding its shareholders.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI shares reached a new 52-week high on Tuesday . The stock traded as high as $31.32 and last traded at $30.64, with a volume of 206435 shares. The stock had previously closed at $30.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. CIBC restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus began coverage on Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Stock Performance

The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 0.67 and a beta of 0.55. The stock's fifty day moving average is $26.56 and its two-hundred day moving average is $26.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $438.20 million during the quarter, compared to analyst estimates of $400.61 million. During the same period in the previous year, the business posted $0.24 EPS. Alamos Gold's revenue was up 31.7% on a year-over-year basis. On average, analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Williamson Legacy Group LLC raised its stake in shares of Alamos Gold by 0.7% during the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company's stock valued at $1,520,000 after purchasing an additional 400 shares in the last quarter. StoneX Group Inc. raised its position in shares of Alamos Gold by 1.8% during the 2nd quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company's stock worth $693,000 after buying an additional 455 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its position in shares of Alamos Gold by 0.3% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 159,650 shares of the basic materials company's stock worth $4,269,000 after buying an additional 500 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Alamos Gold by 0.3% in the fourth quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company's stock valued at $3,349,000 after acquiring an additional 614 shares in the last quarter. Finally, Cheviot Value Management LLC increased its stake in shares of Alamos Gold by 1.2% during the first quarter. Cheviot Value Management LLC now owns 52,377 shares of the basic materials company's stock valued at $1,346,000 after acquiring an additional 635 shares during the period. Institutional investors own 64.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.