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

Key Points

• Alamos Gold Inc. reached a new 52-week high of $35.09, closing at $34.83, with a recent trading volume of 245,807 shares.
• Analysts have generally upgraded their ratings for Alamos Gold, with two analysts giving it a Strong Buy rating and an average target price of $30.38.
• The company declared a quarterly dividend of $0.025 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 12.05%.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI's stock price hit a new 52-week high on Monday . The stock traded as high as $35.09 and last traded at $34.83, with a volume of 245807 shares changing hands. The stock had previously closed at $34.18.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. BMO Capital Markets reissued an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, September 16th. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Finally, Stifel Nicolaus initiated coverage on Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.38.

Alamos Gold Stock Up 2.0%

The company's 50-day moving average price is $28.96 and its 200 day moving average price is $27.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49. The stock has a market cap of $14.67 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.55.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 22.99% and a return on equity of 10.67%. The firm's revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 11th. Alamos Gold's payout ratio is currently 12.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGI. Ameritas Advisory Services LLC purchased a new position in Alamos Gold during the second quarter valued at approximately $30,000. Banque Transatlantique SA bought a new position in Alamos Gold in the 1st quarter worth $31,000. Sunbelt Securities Inc. purchased a new stake in Alamos Gold in the 1st quarter worth $41,000. SBI Securities Co. Ltd. raised its holdings in Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 660 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Alamos Gold in the first quarter valued at about $67,000. 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.

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