Alamos Gold Inc. to Post Q1 2024 Earnings of $0.12 Per Share, Desjardins Forecasts (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Desjardins issued their Q1 2024 EPS estimates for Alamos Gold in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts that the basic materials company will post earnings per share of $0.12 for the quarter. The consensus estimate for Alamos Gold’s current full-year earnings is $0.66 per share.

AGI has been the subject of several other research reports. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Royal Bank of Canada lifted their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Finally, Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Stock Down 1.5 %

Shares of Alamos Gold stock opened at $14.97 on Thursday. Alamos Gold has a 52-week low of $10.78 and a 52-week high of $16.01. The company has a 50 day moving average of $13.72 and a 200 day moving average of $13.22. The company has a market capitalization of $5.96 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.77 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The business had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. During the same quarter last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. Alamos Gold’s payout ratio is currently 18.87%.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cheviot Value Management LLC lifted its holdings in Alamos Gold by 2.0% in the 4th quarter. Cheviot Value Management LLC now owns 51,927 shares of the basic materials company’s stock valued at $699,000 after purchasing an additional 1,000 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Alamos Gold by 2.8% during the 3rd quarter. AE Wealth Management LLC now owns 38,692 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 1,049 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Alamos Gold by 3.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 29,830 shares of the basic materials company’s stock valued at $337,000 after acquiring an additional 1,109 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Alamos Gold by 3.6% during the 4th quarter. Natixis Advisors L.P. now owns 32,588 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Kercheville Advisors LLC increased its stake in shares of Alamos Gold by 3.3% during the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the basic materials company’s stock valued at $501,000 after acquiring an additional 1,200 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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.