Analysts Set Alamos Gold Inc. (NYSE:AGI) Target Price at $22.06

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $23.31.

AGI has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. Scotiabank lifted their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group increased their price objective on shares of Alamos Gold from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th.

Hedge Funds Weigh In On Alamos Gold

Large investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its holdings in shares of Alamos Gold by 131.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock valued at $1,434,000 after acquiring an additional 55,352 shares in the last quarter. National Bank of Canada FI increased its position in shares of Alamos Gold by 3.4% during the 1st quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock valued at $21,824,000 after purchasing an additional 45,412 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock worth $194,224,000 after purchasing an additional 216,280 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alamos Gold by 71.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after buying an additional 2,756,759 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Alamos Gold by 66.2% during the first quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock valued at $2,829,000 after buying an additional 76,379 shares during the period. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Up 6.0 %

Shares of AGI stock opened at $20.05 on Tuesday. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $20.24. The firm’s 50 day moving average is $18.00 and its 200-day moving average is $16.07. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 0.78 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The company had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. On average, equities research analysts forecast that Alamos Gold will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.50%. The ex-dividend date is Thursday, September 12th. Alamos Gold’s dividend payout ratio is presently 19.23%.

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.