Alamos Gold (NYSE:AGI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Weiss Ratings lowered Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Bank of America decreased their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Jefferies Financial Group dropped their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Stock Up 0.7%

Alamos Gold stock opened at $29.59 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Alamos Gold has a 12-month low of $23.92 and a 12-month high of $55.41. The firm’s fifty day moving average is $33.90 and its 200 day moving average is $40.71. The company has a market capitalization of $12.39 billion, a PE ratio of 11.79, a PEG ratio of 0.38 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. Alamos Gold’s revenue was up 79.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, sell-side analysts predict that Alamos Gold will post 2.19 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s dividend payout ratio is presently 6.37%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after acquiring an additional 1,227,695 shares during the last quarter. Empowered Funds LLC bought a new position in Alamos Gold in the 1st quarter valued at about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alamos Gold by 129.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after purchasing an additional 571,536 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Alamos Gold by 375.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after purchasing an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Alamos Gold by 6.9% during the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after purchasing an additional 26,045 shares in the last quarter. 64.33% of the stock is owned by institutional investors.

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.