Brokers Issue Forecasts for Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Alamos Gold in a research report issued to clients and investors on Monday, November 11th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will earn $0.83 per share for the year, down from their prior estimate of $0.84. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.77 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2025 earnings at $1.11 EPS and FY2026 earnings at $1.18 EPS.

AGI has been the subject of several other research reports. Scotiabank raised their price objective on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price objective on Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Royal Bank of Canada raised their price objective on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $17.54 on Thursday. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.37 billion, a P/E ratio of 29.30, a P/E/G ratio of 0.80 and a beta of 1.19. The business has a fifty day simple moving average of $19.91 and a two-hundred day simple moving average of $17.95. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The business had revenue of $360.90 million during the quarter.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC increased its holdings in Alamos Gold by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 27,681 shares of the basic materials company’s stock worth $552,000 after buying an additional 531 shares in the last quarter. Captrust Financial Advisors increased its holdings in Alamos Gold by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,798 shares of the basic materials company’s stock worth $375,000 after buying an additional 728 shares in the last quarter. Foundation Resource Management Inc. increased its holdings in Alamos Gold by 3.0% in the 3rd quarter. Foundation Resource Management Inc. now owns 41,425 shares of the basic materials company’s stock worth $826,000 after buying an additional 1,190 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Alamos Gold by 3.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 38,816 shares of the basic materials company’s stock worth $609,000 after buying an additional 1,282 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Alamos Gold by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,445 shares of the basic materials company’s stock worth $1,042,000 after buying an additional 1,654 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.57%. Alamos Gold’s payout ratio is presently 16.67%.

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.