Alamos Gold (NYSE:AGI) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other research analysts have also weighed in on the company. National Bank Financial reaffirmed an outperform overweight rating on shares of Alamos Gold in a report on Monday, April 8th. Jefferies Financial Group lifted their target price on Alamos Gold from $14.00 to $18.00 and gave the company a buy rating in a report on Monday, April 22nd. Royal Bank of Canada lifted their target price on Alamos Gold from $16.00 to $18.00 and gave the company an outperform rating in a report on Tuesday, April 23rd. Finally, Bank of America raised 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 five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alamos Gold has an average rating of Moderate Buy and an average target price of $18.15.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $15.47 on Wednesday. Alamos Gold has a 52-week low of $10.78 and a 52-week high of $16.01. The stock’s 50-day simple moving average is $14.35 and its 200 day simple moving average is $13.41. The stock has a market capitalization of $6.16 billion, a P/E ratio of 29.46, a P/E/G ratio of 3.65 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Alamos Gold had a return on equity of 7.38% and a net margin of 19.41%. The business had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. During the same period in the previous year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Alamos Gold will post 0.67 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s payout ratio is 19.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in Alamos Gold by 8.3% in the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after buying an additional 4,009,220 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alamos Gold by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock worth $194,224,000 after buying an additional 216,280 shares in the last quarter. Norges Bank purchased a new stake in Alamos Gold in the fourth quarter worth approximately $64,117,000. Invesco Ltd. boosted its stake in Alamos Gold by 4.9% in the third quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock worth $42,502,000 after buying an additional 175,117 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Alamos Gold by 14.7% in the third quarter. American Century Companies Inc. now owns 3,339,827 shares of the basic materials company’s stock worth $37,685,000 after buying an additional 428,780 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.