Alamos Gold (NYSE:AGI) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

Several other equities analysts also recently weighed in on the company. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Zacks Research lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Scotiabank increased their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $45.50.

Alamos Gold Stock Up 3.5%

AGI stock opened at $54.27 on Friday. The stock has a market capitalization of $22.79 billion, a P/E ratio of 25.84, a P/E/G ratio of 0.74 and a beta of 0.54. The firm has a 50-day simple moving average of $42.45 and a 200-day simple moving average of $36.37. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. Alamos Gold has a 52 week low of $22.03 and a 52 week high of $54.37.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The firm had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. During the same period last year, the company posted $0.25 EPS. Alamos Gold’s quarterly revenue was up 53.1% compared to the same quarter last year. Equities analysts forecast that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.04 dividend. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s payout ratio is currently 4.76%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Alamos Gold during the 4th quarter worth approximately $25,000. Clearstead Advisors LLC grew its position in shares of Alamos Gold by 62.8% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 222 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alamos Gold in the third quarter valued at $35,000. Finally, Bayforest Capital Ltd purchased a new stake in Alamos Gold in the fourth quarter valued at $44,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.