Alamos Gold (NYSE:AGI) Stock Price Down 6.3% – What’s Next?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares traded down 6.3% on Wednesday . The company traded as low as $42.34 and last traded at $42.8320. 592,155 shares traded hands during trading, a decline of 85% from the average session volume of 3,993,090 shares. The stock had previously closed at $45.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank lifted their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a research report on Sunday, December 7th. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Performance

The stock’s 50-day moving average price is $44.86 and its 200 day moving average price is $38.22. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The company has a market cap of $17.65 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 0.62 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $575.30 million during the quarter, compared to the consensus estimate of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. Alamos Gold’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. As a group, research analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.04 dividend. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s dividend payout ratio (DPR) is 7.62%.

Hedge Funds Weigh In On Alamos Gold

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew 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 buying an additional 11,876,324 shares during the last quarter. Norges Bank bought a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $219,475,000. Geode Capital Management LLC boosted its position in shares of Alamos Gold by 639.2% in the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares during the period. CIBC Asset Management Inc boosted its position in shares of Alamos Gold by 29.3% in 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 acquiring an additional 2,521,347 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Alamos Gold by 32.3% in the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock worth $238,990,000 after acquiring an additional 2,192,593 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.