Brokerages Set Alamos Gold Inc. (NYSE:AGI) PT at $15.50

Posted by Defense World Staff on Apr 7th, 2023

Shares of Alamos Gold Inc. (NYSE:AGI – Get Rating) (TSE:AGI) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.50.

A number of equities analysts recently issued reports on AGI shares. CIBC increased their price objective on Alamos Gold from C$17.50 to C$18.50 in a report on Tuesday, February 7th. StockNews.com started coverage on Alamos Gold in a report on Thursday, March 16th. They issued a “hold” rating for the company. Canaccord Genuity Group lowered Alamos Gold from a “buy” rating to a “hold” rating in a report on Thursday, January 19th. Finally, National Bank Financial increased their price objective on Alamos Gold from C$17.50 to C$18.00 in a report on Tuesday, February 14th.

Institutional Trading of Alamos Gold

A number of hedge funds have recently modified their holdings of AGI. Millennium Management LLC lifted its holdings in shares of Alamos Gold by 113.3% in the second quarter. Millennium Management LLC now owns 9,450,405 shares of the basic materials company’s stock valued at $66,342,000 after purchasing an additional 5,019,569 shares in the last quarter. Norges Bank purchased a new stake in shares of Alamos Gold during the fourth quarter worth $41,367,000. Triasima Portfolio Management inc. purchased a new stake in shares of Alamos Gold during the fourth quarter worth $31,471,000. Van ECK Associates Corp raised its holdings in shares of Alamos Gold by 7.4% during the fourth quarter. Van ECK Associates Corp now owns 44,900,614 shares of the basic materials company’s stock worth $453,943,000 after acquiring an additional 3,088,880 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Alamos Gold during the fourth quarter worth $22,409,000. Hedge funds and other institutional investors own 50.22% of the company’s stock.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $12.97 on Tuesday. The stock’s 50 day moving average price is $10.94 and its two-hundred day moving average price is $9.72. Alamos Gold has a 52-week low of $6.35 and a 52-week high of $13.04. The stock has a market capitalization of $5.11 billion, a P/E ratio of 129.70, a PEG ratio of 1.83 and a beta of 1.09.

Alamos Gold (NYSE:AGI – Get Rating) (TSE:AGI) last posted its earnings results on Thursday, February 23rd. The basic materials company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $231.90 million during the quarter, compared to analyst estimates of $232.00 million. Alamos Gold had a return on equity of 4.03% and a net margin of 4.52%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. On average, analysts anticipate that Alamos Gold will post 0.41 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.77%. Alamos Gold’s dividend payout ratio (DPR) is presently 100.00%.

Alamos Gold Company Profile

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Alamos Gold, Inc engages in the exploration, development, mining and extraction of precious metals. It operates through the following segments: Young-Davidson, Mulatos, Island Gold, Elchanate, Kirazli and Corporate and Other. The company was founded on February 21, 2003 and is headquartered in Toronto, Canada.