Alamos Gold (NYSE:AGI) Hits New 52-Week High – Should You Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $40.70 and last traded at $40.5540, with a volume of 335580 shares trading hands. The stock had previously closed at $38.48.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AGI shares. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a research report on Sunday, December 7th. Bank of America boosted their target price on Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Finally, Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of $43.00.

Alamos Gold Price Performance

The company has a market capitalization of $16.98 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.63. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average is $34.34 and its 200-day moving average is $30.68.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The firm had revenue of $462.30 million during the quarter, compared to analyst estimates of $490.96 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue was up 28.1% compared to the same quarter last year. Equities analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a $0.025 dividend. The ex-dividend date was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.2%. Alamos Gold’s payout ratio is presently 7.81%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AGI. Ameritas Advisory Services LLC purchased a new stake in shares of Alamos Gold in the 2nd quarter valued at $30,000. Banque Transatlantique SA purchased a new position in Alamos Gold in the 1st quarter worth $31,000. 1620 Investment Advisors Inc. bought a new stake in Alamos Gold in the third quarter worth $35,000. EverSource Wealth Advisors LLC boosted its position in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after buying an additional 581 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of Alamos Gold during the first quarter valued at about $67,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.