Alamos Gold Inc. (NYSE:AGI) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts give Alamos Gold a “Moderate Buy” consensus: Seven of nine analysts recommend buying the stock, while two rate it a hold. The average 12-month price target is $47.50, above the reported share price of $33.06.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 64.33% of Alamos Gold, with several major firms increasing their positions and Norges Bank establishing a new stake.
• Recent financial results exceeded expectations: Alamos Gold reported quarterly EPS of $0.59 versus the $0.52 consensus estimate, while revenue increased 35.6% year over year to $594.1 million. The company also declared a quarterly dividend of $0.04 per share.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $47.50.

A number of research firms recently commented on AGI. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Alamos Gold in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Wall Street Zen cut shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Bank of America lowered their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 14th.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Alamos Gold by 11.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company's stock valued at $351,072,000 after acquiring an additional 964,317 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Alamos Gold by 6.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company's stock valued at $338,372,000 after acquiring an additional 514,819 shares in the last quarter. Norges Bank purchased a new position in Alamos Gold during the 4th quarter valued at $219,475,000. Renaissance Technologies LLC increased its position in Alamos Gold by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company's stock valued at $227,400,000 after purchasing an additional 92,227 shares during the period. Finally, Geode Capital Management LLC increased its position in Alamos Gold by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,219,852 shares of the basic materials company's stock valued at $168,031,000 after purchasing an additional 242,415 shares during the period. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $33.06 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The business's 50 day simple moving average is $34.02 and its two-hundred day simple moving average is $37.30. The stock has a market capitalization of $13.83 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.44 and a beta of 0.61. Alamos Gold has a one year low of $27.05 and a one year high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The firm had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business's quarterly revenue was up 35.6% compared to the same quarter last year. Analysts forecast that Alamos Gold will post 2.11 EPS for the current year.

Alamos Gold Announces Dividend

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

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company's activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold's principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.

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