Alamos Gold (NYSE:AGI) Shares Up 9.9% – Here’s Why

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price traded up 9.9% on Wednesday . The stock traded as high as $35.86 and last traded at $36.1530. Approximately 1,007,476 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,107,886 shares. The stock had previously closed at $32.90.

Analyst Ratings Changes

Several research analysts recently issued reports on AGI shares. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Bank of America reduced their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings lowered Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Stock Up 9.2%

The company has a market cap of $15.04 billion, a PE ratio of 13.03, a P/E/G ratio of 0.44 and a beta of 0.56. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $31.39 and its 200-day simple moving average is $39.46.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, equities research analysts expect that Alamos Gold Inc. will post 2.18 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold’s dividend payout ratio (DPR) is presently 5.78%.

Institutional Investors Weigh In On Alamos Gold

Several hedge funds have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold during the fourth quarter worth approximately $25,000. Clearstead Advisors LLC raised its holdings in Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 222 shares during the period. Parallel Advisors LLC purchased a new position in shares of Alamos Gold during the 1st quarter worth $35,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Alamos Gold during the fourth quarter worth $44,000. 64.33% of the stock is owned by institutional investors and hedge funds.

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.