Alamos Gold Inc. Forecasted to Earn Q1 2024 Earnings of $0.14 Per Share (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Analysts at National Bank Financial issued their Q1 2024 earnings estimates for Alamos Gold in a research report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the basic materials company will post earnings per share of $0.14 for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.64 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2024 earnings at $0.53 EPS and FY2025 earnings at $0.68 EPS.

Several other analysts have also recently weighed in on the stock. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and raised their target price for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. Jefferies Financial Group raised their price target on Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $16.00 in a research note on Thursday, January 11th. Finally, StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Alamos Gold Stock Down 3.6 %

AGI opened at $14.76 on Monday. The firm has a market cap of $5.87 billion, a P/E ratio of 27.84, a P/E/G ratio of 3.89 and a beta of 1.15. The business has a fifty day simple moving average of $13.51 and a 200-day simple moving average of $13.17. Alamos Gold has a 52 week low of $10.78 and a 52 week high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The business had revenue of $254.60 million for the quarter, compared to analyst estimates of $257.47 million. During the same quarter in the prior year, the company posted $0.09 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis.

Institutional Trading of Alamos Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Alamos Gold by 95.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 193,824 shares of the basic materials company’s stock valued at $2,859,000 after buying an additional 94,534 shares in the last quarter. Stapp Wealth Management Pllc acquired a new stake in Alamos Gold in the 1st quarter valued at about $254,000. Harbour Capital Advisors LLC increased its holdings in Alamos Gold by 75.7% during the 1st quarter. Harbour Capital Advisors LLC now owns 48,480 shares of the basic materials company’s stock valued at $709,000 after acquiring an additional 20,890 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new position in Alamos Gold during the first quarter worth about $115,000. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in shares of Alamos Gold by 282.9% in the first quarter. Murphy Pohlad Asset Management LLC now owns 74,715 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 55,200 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.68%. Alamos Gold’s dividend payout ratio is currently 18.87%.

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.