Alamos Gold (NYSE:AGI) Sets New 12-Month High – Time to Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price reached a new 52-week high on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGI. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $25.06.

Alamos Gold Price Performance

The firm has a market capitalization of $9.58 billion, a P/E ratio of 37.99, a P/E/G ratio of 0.66 and a beta of 1.16. The stock’s fifty day simple moving average is $19.56 and its 200 day simple moving average is $19.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.025 dividend. 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 dividend payout ratio is currently 16.67%.

Institutional Trading of Alamos Gold

A number of institutional investors have recently made changes to their positions in AGI. CIBC Asset Management Inc raised its stake in Alamos Gold by 59.0% in the fourth 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 last quarter. FMR LLC increased its holdings in shares of Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after acquiring an additional 2,148,153 shares in the last quarter. Addenda Capital Inc. purchased a new position in shares of Alamos Gold in the 4th quarter valued at approximately $34,869,000. Raymond James Financial Inc. acquired a new stake in Alamos Gold in the 4th quarter worth approximately $28,950,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Alamos Gold by 19.1% during the 3rd 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.

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.