Alamos Gold (TSE:AGI) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Alamos Gold's stock has recently crossed above its 200-day moving average, indicating a potential bullish trend, with the stock last trading at C$47.84 after reaching as high as C$48.50.
• Analysts have generally upgraded their ratings and price targets for Alamos Gold, with a consensus target price now at C$54.50 and some firms, like CIBC, setting targets as high as C$74.00.
• The company has announced a cut in its dividend, paying a quarterly dividend of $0.025 per share, which reflects a low yield of only 0.2% compared to its overall market performance.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.83 and traded as high as C$48.50. Alamos Gold shares last traded at C$47.84, with a volume of 1,689,231 shares traded.

Analyst Ratings Changes

AGI has been the subject of several research reports. National Bankshares increased their price target on shares of Alamos Gold from C$53.50 to C$56.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Bank of America increased their price target on shares of Alamos Gold from C$50.50 to C$55.00 in a research note on Friday, August 29th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. CIBC increased their price target on shares of Alamos Gold from C$55.00 to C$74.00 in a research note on Friday, October 10th. Finally, TD Securities decreased 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. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, Alamos Gold currently has a consensus rating of "Buy" and a consensus target price of C$54.50.

Alamos Gold Stock Performance

The firm has a market capitalization of C$20.11 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of -2.10 and a beta of 0.78. 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 business's 50 day simple moving average is C$42.93 and its two-hundred day simple 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. 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 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.

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