Alamos Gold (NYSE:AGI) Reaches New 12-Month High – Here’s What Happened

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $37.66 and last traded at $37.6190, with a volume of 513746 shares. The stock had previously closed at $36.77.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AGI. Desjardins started coverage on shares of Alamos Gold in a research report on Friday. They set a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Tuesday. Bank of America boosted their price target on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $41.00.

Alamos Gold Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49. The company has a market cap of $15.89 billion, a P/E ratio of 29.51, a P/E/G ratio of 0.50 and a beta of 0.50. The firm’s fifty day moving average is $33.39 and its two-hundred day moving average is $29.46.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.69% and a net margin of 33.46%.The business had revenue of $462.30 million for the quarter, compared to the consensus estimate of $490.96 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. As a group, analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, December 4th. Alamos Gold’s dividend payout ratio is presently 7.81%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in Alamos Gold by 35.3% in the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after acquiring an additional 11,876,324 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after purchasing an additional 524,263 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Alamos Gold by 29.3% during the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after purchasing an additional 2,521,347 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Alamos Gold by 6.3% in the third quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock worth $332,724,000 after purchasing an additional 567,926 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Alamos Gold by 19.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company’s stock worth $156,780,000 after buying an additional 957,359 shares in the last quarter. Hedge funds and other institutional investors 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.