Alamos Gold (NYSE:AGI) Reaches New 52-Week High – Here’s Why

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $37.66 and last traded at $37.6190, with a volume of 513746 shares. The stock had previously closed at $36.77.

Analyst Ratings Changes

A number of brokerages have issued reports on AGI. BMO Capital Markets reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Bank of America raised their target price on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of $41.00.

Alamos Gold Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 0.50 and a beta of 0.50. The stock’s fifty day moving average price is $33.28 and its 200-day moving average price is $29.33.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $462.30 million for the quarter, compared to analysts’ expectations of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.69%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Equities research analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, December 4th. Alamos Gold’s payout ratio is presently 7.81%.

Hedge Funds Weigh In On Alamos Gold

Large investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. purchased a new stake in shares of Alamos Gold in the third quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new position in Alamos Gold in the 2nd quarter valued at approximately $30,000. Banque Transatlantique SA purchased a new stake in Alamos Gold in the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its position in Alamos Gold by 69.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after buying an additional 581 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Alamos Gold during the 1st quarter valued at $67,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

About Alamos Gold

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.