Alamos Gold Inc. (NYSE:AGI) Plans Quarterly Dividend of $0.04

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) announced a quarterly dividend on Wednesday, February 18th. Shareholders of record on Thursday, March 12th will be given a dividend of 0.04 per share by the basic materials company on Thursday, March 26th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, March 12th. This is a 60.0% increase from Alamos Gold’s previous quarterly dividend of $0.03.

Alamos Gold has raised its dividend by an average of 0.2%annually over the last three years. Alamos Gold has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alamos Gold to earn $1.16 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 8.6%.

Alamos Gold Price Performance

Shares of NYSE:AGI traded up $0.85 during midday trading on Thursday, hitting $44.59. 381,944 shares of the stock were exchanged, compared to its average volume of 4,168,841. Alamos Gold has a twelve month low of $22.03 and a twelve month high of $46.66. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $40.75 and a 200-day moving average price of $35.12. The stock has a market cap of $18.72 billion, a P/E ratio of 34.73, a PEG ratio of 0.41 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The company had revenue of $575.30 million during the quarter, compared to the consensus estimate of $596.18 million. During the same quarter last year, the business posted $0.25 earnings per share. Alamos Gold’s revenue was up 53.1% compared to the same quarter last year. On average, research analysts forecast that Alamos Gold will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AGI shares. Scotiabank upped their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus target price of $45.50.

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.