Scotiabank Issues Positive Forecast for Alamos Gold Earnings

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) – Scotiabank boosted their FY2024 earnings per share estimates for Alamos Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will earn $1.16 per share for the year, up from their previous estimate of $1.12. The consensus estimate for Alamos Gold’s current full-year earnings is $1.48 per share. Scotiabank also issued estimates for Alamos Gold’s FY2026 earnings at $1.61 EPS.

Alamos Gold (TSE:AGI) (NYSE:AGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.26 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.04). The business had revenue of C$492.35 million during the quarter. Alamos Gold had a return on equity of 6.72% and a net margin of 17.72%.

A number of other equities analysts also recently commented on the company. National Bank Financial raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. CIBC boosted their price target on shares of Alamos Gold from C$38.00 to C$40.00 in a report on Monday, December 2nd. National Bankshares raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective on the stock in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Alamos Gold from C$27.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Alamos Gold currently has an average rating of “Buy” and an average target price of C$26.50.

Alamos Gold Price Performance

Shares of TSE AGI opened at C$28.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.04 and a quick ratio of 1.06. The company has a market cap of C$11.81 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of -2.10 and a beta of 1.10. The stock’s 50-day moving average is C$26.69 and its two-hundred day moving average is C$25.70. Alamos Gold has a 1-year low of C$15.27 and a 1-year high of C$29.66.

Insider Buying and Selling

In other news, Director David Alexander Fleck acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of C$26.85 per share, with a total value of C$53,700.00. 0.27% of the stock is owned by company insiders.

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.