Alamos Gold (NYSE:AGI) Price Target Raised to $50.00

Alamos Gold (NYSE:AGI) (TSE:AGI) had its target price lifted by Scotiabank from $39.00 to $50.00 in a research note released on Thursday, MarketBeat Ratings reports. They currently have a sector outperform rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on the stock. Zacks Research raised shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Alamos Gold in a research report on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a “buy” rating on the stock. Finally, Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $41.00.

Alamos Gold Trading Down 1.0%

Shares of AGI stock opened at $31.55 on Thursday. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. Alamos Gold has a fifty-two week low of $17.42 and a fifty-two week high of $37.54. The firm’s 50 day moving average price is $32.26 and its two-hundred day moving average price is $28.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $438.20 million for the quarter, compared to analysts’ expectations of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. Alamos Gold’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts anticipate that Alamos Gold will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.10 annualized dividend and a yield of 0.3%. Alamos Gold’s payout ratio is presently 12.05%.

Institutional Trading of Alamos Gold

Several institutional investors have recently added to or reduced their stakes in AGI. Ameritas Advisory Services LLC bought a new stake in Alamos Gold during the second quarter valued at $30,000. Banque Transatlantique SA acquired a new position in shares of Alamos Gold during the first quarter valued at $31,000. 1620 Investment Advisors Inc. acquired a new position in shares of Alamos Gold during the third quarter valued at $35,000. Sunbelt Securities Inc. acquired a new position in shares of Alamos Gold during the first quarter valued at $41,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 660 shares during the period. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.