Alamos Gold (TSE:AGI) Hits New 52-Week High - Still a Buy?

Key Points

• Alamos Gold reached a new 52-week high with shares trading at C$43.81, seeing significant volume with 695,595 shares traded.
• A range of analysts have updated their price targets for Alamos Gold, with Bank of America raising theirs to C$55.00 and National Bankshares setting it at C$52.25, reflecting positive market sentiment.
• The company announced a dividend cut, declaring a quarterly dividend of $0.025 per share, which corresponds to an annual yield of 0.2% and a payout ratio of 12.20%.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$43.86 and last traded at C$43.81, with a volume of 695595 shares changing hands. The stock had previously closed at C$41.84.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AGI. Bank of America upped their price target on shares of Alamos Gold from C$50.50 to C$55.00 in a research note on Friday, August 29th. TD Securities lowered their target price on 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. National Bankshares raised their price target on Alamos Gold from C$51.75 to C$52.25 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Finally, Stifel Canada raised Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$46.21.

Alamos Gold Trading Up 2.2%

The company's fifty day moving average is C$37.15 and its 200-day moving average is C$36.74. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 8.48. The firm has a market capitalization of C$18.74 billion, a P/E ratio of 54.37, a P/E/G ratio of -2.10 and a beta of 0.59.

Alamos Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 11th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. Alamos Gold's dividend payout ratio is currently 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.