Alamos Gold Inc. (AGI) to Issue Quarterly Dividend of $0.03 on June 27th

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) declared a quarterly dividend on Thursday, May 30th, Zacks reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.025 per share by the basic materials company on Thursday, June 27th. This represents a $0.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, June 13th.

Alamos Gold has increased its dividend payment by an average of 15.4% per year over the last three years. Alamos Gold has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alamos Gold to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 11.4%.

Alamos Gold Stock Up 1.2 %

Shares of AGI opened at $16.15 on Tuesday. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 0.73 and a beta of 1.23. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $17.29. The company has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $13.99.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. 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 business posted $0.12 earnings per share. Alamos Gold’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts expect that Alamos Gold will post 0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AGI. National Bank Financial reissued an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Royal Bank of Canada boosted their price objective on shares of Alamos Gold from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.15.

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.