Alamos Gold Inc. (NYSE:AGI) Stock Has Average Target Price of $47.50

Key Points

• Analysts maintain a moderately bullish view: Nine analysts give Alamos Gold an average “Moderate Buy” rating, with eight buys and one sell. The average 12-month price target is $47.50, well above the cited share price of $29.94.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 64.33% of the company, with several major institutions increasing their stakes during the first quarter.
• Quarterly results exceeded expectations: Alamos Gold reported adjusted earnings of $0.59 per share versus the $0.52 consensus estimate, while revenue rose 35.6% year over year to $594.1 million. The company also declared a quarterly dividend of $0.04 per share.

Shares of Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI have earned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $47.50.

A number of analysts recently weighed in on AGI shares. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Wall Street Zen cut Alamos Gold from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Bank of America reduced their target price on Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Jefferies Financial Group reduced their target price on Alamos Gold from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Alamos Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in Alamos Gold by 1.8% during the first quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company's stock worth $227,400,000 after buying an additional 92,227 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company's stock worth $183,963,000 after purchasing an additional 1,216,977 shares during the period. Amundi boosted its holdings in Alamos Gold by 6.1% in the first quarter. Amundi now owns 3,411,224 shares of the basic materials company's stock valued at $151,561,000 after acquiring an additional 197,486 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Alamos Gold by 5.6% in the 1st quarter. Bank of America Corp DE now owns 2,438,796 shares of the basic materials company's stock valued at $108,356,000 after purchasing an additional 128,299 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Alamos Gold by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company's stock worth $74,757,000 after buying an additional 141,000 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Trading Down 1.2%

Shares of AGI stock opened at $29.94 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $12.53 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 0.46 and a beta of 0.59. The business's 50 day moving average is $34.44 and its two-hundred day moving average is $35.90. Alamos Gold has a twelve month low of $27.05 and a twelve month high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. The company had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. Alamos Gold's quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. Equities analysts forecast that Alamos Gold will post 2.06 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.04 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Alamos Gold's dividend payout ratio is currently 5.78%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold's principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.

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