Alamos Gold (TSE:AGI) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Alamos Gold's stock price reached a new 52-week high after National Bankshares raised its price target from C$56.00 to C$64.00, indicating a strong market expectation.
• Multiple analysts have given positive ratings for Alamos Gold, with a consensus rating of "Buy" and an average target price of C$55.83.
• The company recently cut its quarterly dividend to $0.025, representing a low dividend yield of 0.2% and a payout ratio of 12.20%.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's stock price reached a new 52-week high on Wednesday after National Bankshares raised their price target on the stock from C$56.00 to C$64.00. National Bankshares currently has an outperform rating on the stock. Alamos Gold traded as high as C$49.60 and last traded at C$49.54, with a volume of 168165 shares changing hands. The stock had previously closed at C$47.84.

A number of other research firms have also recently weighed in on AGI. Bank of America increased their price objective on shares of Alamos Gold from C$50.50 to C$55.00 in a report on Friday, August 29th. BMO Capital Markets increased their price objective on shares of Alamos Gold from C$48.00 to C$51.00 in a report on Tuesday, September 16th. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC raised their target price on shares of Alamos Gold from C$55.00 to C$74.00 in a research note on Friday, October 10th. Finally, TD Securities lowered 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 assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$55.83.

Alamos Gold Stock Performance

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 has a market capitalization of C$21.20 billion, a price-to-earnings ratio of 61.50, a PEG ratio of -2.10 and a beta of 0.78. The firm's fifty day moving average is C$42.93 and its 200 day moving average is C$38.83.

Alamos Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, September 11th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend 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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