FY2024 EPS Estimates for Alamos Gold Raised by Analyst

Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI - Investment analysts at National Bank Financial upped their FY2024 earnings per share estimates for shares of Alamos Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings of $0.84 per share for the year, up from their prior estimate of $0.65. National Bank Financial has a "Hold" rating on the stock. The consensus estimate for Alamos Gold's current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Alamos Gold's FY2025 earnings at $1.14 EPS.

Several other brokerages have also recently issued reports on AGI. Scotiabank lifted their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. StockNews.com downgraded Alamos Gold from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of Alamos Gold from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $25.06.

Alamos Gold Stock Down 1.4 %

AGI stock traded down $0.30 during mid-day trading on Friday, hitting $20.79. The company had a trading volume of 1,582,504 shares, compared to its average volume of 2,347,516. The company has a 50-day moving average price of $19.84 and a 200 day moving average price of $17.51. Alamos Gold has a 12-month low of $11.24 and a 12-month high of $21.45. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.97, a P/E/G ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company's quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Thursday, September 12th. Alamos Gold's dividend payout ratio (DPR) is 19.23%.

Hedge Funds Weigh In On Alamos Gold

Several large investors have recently modified their holdings of AGI. Mackenzie Financial Corp lifted its stake in Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company's stock worth $119,003,000 after purchasing an additional 4,521,282 shares during the last quarter. Van ECK Associates Corp grew its position in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company's stock valued at $772,863,000 after acquiring an additional 4,009,220 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company's stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. CIBC Asset Management Inc increased its stake in Alamos Gold by 311.9% in the second quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company's stock worth $42,480,000 after purchasing an additional 2,051,935 shares during the period. Finally, Triasima Portfolio Management inc. lifted its position in shares of Alamos Gold by 328.2% during the second quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company's stock worth $21,779,000 after purchasing an additional 1,064,629 shares during the last quarter. Institutional investors own 64.33% of the company's stock.

Alamos Gold Company Profile

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.