Alamos Gold (TSE:AGI) Sets New 1-Year High - Should You Buy?

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 reached a new 52-week high during mid-day 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 Analyst Weigh In

Several analysts have weighed in on the stock. National Bankshares boosted their price target on shares of 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. TD Securities lowered their price target on shares of Alamos Gold from C$48.00 to C$47.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America boosted their price target on shares of 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 four have given a Buy rating to the company. Based on data from MarketBeat, Alamos Gold presently has an average rating of "Buy" and a consensus price target of C$46.21.

Alamos Gold Trading Up 0.9%

The stock's fifty day moving average price is C$38.21 and its 200 day moving average price is C$37.29. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 8.48. The stock has a market cap of C$19.36 billion, a PE ratio of 56.15, a PEG ratio of -2.10 and a beta of 0.59.

Alamos Gold Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.025 per share. 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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