Alamos Gold (TSE:AGI) Hits New 1-Year High - Still a Buy?

Key Points

• Alamos Gold Inc. shares have reached a new 52-week high, trading at C$48.90, with an average target price set at C$50.17 based on analyst ratings.
• Several analysts have upgraded their ratings for the stock, with National Bankshares raising their price objective to C$56.00 and Stifel Canada offering a "strong-buy" rating.
• The company recently cut its quarterly dividend to $0.025 per share, translating to an annual yield of 0.2% and a payout ratio of 12.20%.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$48.90 and last traded at C$48.69, with a volume of 411554 shares traded. The stock had previously closed at C$47.58.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AGI shares. National Bankshares boosted their price objective on Alamos Gold from C$53.50 to C$56.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. BMO Capital Markets raised their price target on shares of Alamos Gold from C$48.00 to C$51.00 in a report on Tuesday, September 16th. Bank of America upped their target price on Alamos Gold from C$50.50 to C$55.00 in a report on Friday, August 29th. Finally, TD Securities cut their target price on shares of Alamos Gold from C$48.00 to C$47.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$50.17.

Alamos Gold Price Performance

The firm has a market cap of C$20.27 billion, a P/E ratio of 58.79, a price-to-earnings-growth ratio of -2.10 and a beta of 0.59. The company has a debt-to-equity ratio of 8.48, a current ratio of 1.62 and a quick ratio of 1.06. The firm's 50 day moving average is C$39.94 and its 200 day moving average is C$37.98.

Alamos Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.2%. Alamos Gold's payout ratio is 12.20%.

About Alamos Gold

Alamos Gold Inc acquires, explores, and produces gold and other precious metals, and operates in two principal geographic areas: Canada and Mexico. The company has three operating mines in North America: the Young-Davidson Mine in Canada and the Mulatos and El Chanate Mines in Sonora, Mexico. The Young-Davidson mine is the group's largest revenue contributor, and the property also holds mineral leases and claims covering approximately 11,000 acres.

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