Alamos Gold (NYSE:AGI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a report published on Saturday.

Several other research analysts also recently weighed in on AGI. Royal Bank Of Canada cut their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Bank of America dropped their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group cut their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Price Performance

Alamos Gold stock opened at $29.69 on Friday. Alamos Gold has a 12 month low of $23.92 and a 12 month high of $55.41. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $33.68 and its 200 day simple moving average is $40.64. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.38 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business’s revenue for the quarter was up 79.2% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. Sell-side analysts forecast that Alamos Gold will post 2.19 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio is currently 6.37%.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new stake in Alamos Gold in the 4th quarter worth approximately $25,000. Clearstead Advisors LLC grew its position in shares of Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 222 shares during the period. Parallel Advisors LLC bought a new position in shares of Alamos Gold in the first quarter worth $35,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Alamos Gold in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

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.