Alamos Gold (NYSE:AGI) Trading Up 9.9% - Still a Buy?

Key Points

• Alamos Gold shares jumped 9.9% to about $36.15, though trading volume was 75% below the average daily level.
• Analysts remain broadly positive, with eight Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $47.50; some firms recently lowered their targets.
• The company reported quarterly EPS of $0.59, beating estimates of $0.52, while revenue rose 35.6% year over year to $594.1 million. Alamos also pays a $0.16 annualized dividend, yielding 0.4%.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI traded up 9.9% on Wednesday . The company traded as high as $35.86 and last traded at $36.1530. Approximately 1,007,476 shares traded hands during trading, a decline of 75% from the average daily volume of 4,107,886 shares. The stock had previously closed at $32.90.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on shares of Alamos Gold from $52.00 to $42.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group cut their price objective on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings lowered Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Price Performance

The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.44 and a beta of 0.56. The stock has a 50-day moving average price of $31.39 and a two-hundred day moving average price of $39.46.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. During the same period in the prior year, the company posted $0.34 EPS. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alamos Gold Inc. will post 2.18 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold's dividend payout ratio (DPR) is currently 5.78%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock worth $28,000 after purchasing an additional 222 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Alamos Gold by 2.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company's stock valued at $454,000 after buying an additional 229 shares during the last quarter. Clearstead Advisors LLC grew its position in Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock valued at $25,000 after buying an additional 251 shares during the last quarter. Private Advisor Group LLC increased its stake in Alamos Gold by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company's stock valued at $340,000 after buying an additional 300 shares during the period. Finally, Coastal Bridge Advisors LLC increased its stake in Alamos Gold by 1.8% in the 4th quarter. Coastal Bridge Advisors LLC now owns 16,907 shares of the basic materials company's stock valued at $654,000 after buying an additional 300 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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