Alamos Gold (NYSE:AGI) Reaches New 52-Week High – Still a Buy?

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) hit a new 52-week high on Friday . The company traded as high as $43.95 and last traded at $43.3490, with a volume of 438554 shares. The stock had previously closed at $42.18.

Analysts Set New Price Targets

AGI has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Desjardins initiated coverage on shares of Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $43.00.

Alamos Gold Stock Up 3.0%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The firm’s 50-day moving average is $38.32 and its 200 day moving average is $33.06. The firm has a market capitalization of $18.24 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 0.41 and a beta of 0.63.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. As a group, research analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 4th. Alamos Gold’s payout ratio is currently 7.81%.

Institutional Investors Weigh In On Alamos Gold

A number of large investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Alamos Gold in the second quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in Alamos Gold during the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC increased its position in Alamos Gold by 69.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 581 shares in the last quarter. Bessemer Group Inc. acquired a new position in Alamos Gold in the 2nd quarter valued at about $90,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Alamos Gold in the 2nd quarter valued at about $98,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.