Alamos Gold (NYSE:AGI) Upgraded at Wall Street Zen

Key Points

• Alamos Gold has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• The company's quarterly earnings report showed $438.20 million in revenue, exceeding expectations and reflecting a 31.7% year-over-year increase.
• Institutional investors now own 64.33% of Alamos Gold's stock, highlighting increasing confidence in the company's performance.

Wall Street Zen upgraded shares of Alamos Gold (NYSE:AGI - Free Report) TSE: AGI from a hold rating to a buy rating in a report released on Saturday.

A number of other research firms have also commented on AGI. National Bankshares reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Stifel Nicolaus initiated coverage on Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Finally, CIBC reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Alamos Gold currently has an average rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Price Performance

NYSE:AGI traded up $0.39 during trading hours on Friday, hitting $33.69. The company's stock had a trading volume of 420,591 shares, compared to its average volume of 3,535,716. The business's 50-day moving average is $28.32 and its two-hundred day moving average is $27.16. The company has a market capitalization of $14.17 billion, a PE ratio of 40.58, a PEG ratio of 0.66 and a beta of 0.55. 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 has a 52-week low of $17.42 and a 52-week high of $34.01.

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 for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.Alamos Gold's revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. As a group, research analysts anticipate that Alamos Gold will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

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 issued 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 large investors have recently modified their holdings of AGI. Ameritas Advisory Services LLC purchased a new position in shares of Alamos Gold in the 2nd quarter worth about $30,000. Banque Transatlantique SA purchased a new stake in shares of Alamos Gold during the 1st quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold during the 1st quarter valued at about $41,000. SBI Securities Co. Ltd. raised its holdings in shares of Alamos Gold by 67.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after buying an additional 660 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Alamos Gold during the 1st quarter valued at about $67,000. 64.33% of the stock is currently owned by hedge funds and other 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.