Alamos Gold (NYSE:AGI) Reaches New 52-Week High After Analyst Upgrade

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $25.00 to $27.00. Royal Bank of Canada currently has an outperform rating on the stock. Alamos Gold traded as high as $23.06 and last traded at $22.80, with a volume of 3024939 shares. The stock had previously closed at $22.18.

Several other research firms have also issued reports on AGI. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.06.

Institutional Investors Weigh In On Alamos Gold

A number of hedge funds have recently bought and sold shares of AGI. Vanguard Group Inc. grew its stake in Alamos Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock worth $295,105,000 after buying an additional 279,280 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock worth $173,991,000 after acquiring an additional 1,424,550 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Alamos Gold by 59.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after buying an additional 2,867,027 shares during the period. FMR LLC raised its holdings in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after purchasing an additional 2,148,153 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Alamos Gold by 19.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company’s stock worth $110,662,000 after purchasing an additional 891,255 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $19.71 and a 200-day moving average of $19.40. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 0.66 and a beta of 1.16.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, December 5th. Alamos Gold’s payout ratio is 16.67%.

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.