Brokers Set Expectations for Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at Desjardins issued their Q1 2024 earnings per share estimates for Alamos Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the basic materials company will post earnings of $0.12 per share for the quarter. The consensus estimate for Alamos Gold’s current full-year earnings is $0.66 per share.

Other analysts also recently issued reports about the company. Jefferies Financial Group increased their price target on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. National Bank Financial reissued an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and increased their price target for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Sunday, April 14th. Finally, Royal Bank of Canada increased their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Stock Up 2.1 %

AGI opened at $15.30 on Thursday. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $16.01. The company has a fifty day moving average of $13.79 and a 200-day moving average of $13.25. The stock has a market cap of $6.09 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.79 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. Alamos Gold had a net margin of 19.41% and a return on equity of 7.43%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.65%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s payout ratio is currently 19.23%.

Institutional Trading of Alamos Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC acquired a new position in shares of Alamos Gold during the fourth quarter valued at about $27,000. AJOVista LLC acquired a new position in Alamos Gold during the 4th quarter valued at about $83,000. Fifth Third Bancorp bought a new stake in Alamos Gold during the 4th quarter worth approximately $96,000. Venturi Wealth Management LLC raised its stake in shares of Alamos Gold by 20.7% in the first quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,200 shares during the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in shares of Alamos Gold in the first quarter valued at approximately $115,000. 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.