Alamos Gold (NYSE:AGI) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Several other research analysts also recently commented on the company. National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Jefferies Financial Group increased their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Scotiabank raised their target price on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada upped their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.06.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $20.79 on Tuesday. Alamos Gold has a 1 year low of $11.24 and a 1 year high of $21.45. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The company’s 50 day simple moving average is $19.84 and its 200 day simple moving average is $17.51.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The company had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. During the same quarter last year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, analysts anticipate that Alamos Gold will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.48%. Alamos Gold’s dividend payout ratio is presently 19.23%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kercheville Advisors LLC grew its stake in shares of Alamos Gold by 42.5% in the third quarter. Kercheville Advisors LLC now owns 87,850 shares of the basic materials company’s stock worth $1,753,000 after purchasing an additional 26,200 shares during the last quarter. Legacy Capital Group California Inc. acquired a new position in Alamos Gold during the 3rd quarter worth about $211,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Alamos Gold during the 3rd quarter worth about $1,196,000. International Assets Investment Management LLC bought a new stake in shares of Alamos Gold in the 3rd quarter valued at about $3,290,000. Finally, Eastern Bank acquired a new stake in shares of Alamos Gold in the third quarter valued at about $111,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.