Alamos Gold (TSE:AGI) Sets New 1-Year High - What's Next?

Key Points

• Alamos Gold reached a new 52-week high, trading at C$46.94 during mid-day, with an average rating of "Buy" from analysts and a consensus price target of C$46.21.
• The company cut its quarterly dividend to $0.025 per share, resulting in an annual yield of 0.2% and a payout ratio of 12.20%.
• Analysts from several institutions have updated their price targets, with Bank of America raising theirs to C$55.00 and National Bankshares increasing it to C$52.25, indicating growing confidence in the stock.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's share price reached a new 52-week high during trading on Monday . The company traded as high as C$46.94 and last traded at C$46.28, with a volume of 487320 shares traded. The stock had previously closed at C$45.63.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AGI. National Bankshares lifted their price objective on Alamos Gold from C$51.75 to C$52.25 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets raised their price target on Alamos Gold from C$48.00 to C$51.00 in a research note on Tuesday. TD Securities decreased their price target 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. Finally, Bank of America raised their price target on Alamos Gold from C$50.50 to C$55.00 in a research note on Friday, August 29th. Two investment 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, the company presently has an average rating of "Buy" and an average price target of C$49.54.

Alamos Gold Trading Up 3.5%

The firm has a market capitalization of C$18.70 billion, a PE ratio of 54.26, a P/E/G ratio of -2.10 and a beta of 0.59. The company has a debt-to-equity ratio of 8.48, a quick ratio of 1.06 and a current ratio of 1.62. The firm has a fifty day moving average of C$38.81 and a 200 day moving average of C$37.52.

Alamos Gold Cuts Dividend

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