FY2024 EPS Estimates for Alamos Gold Inc. Cut by Analyst (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – National Bank Financial cut their FY2024 EPS estimates for shares of Alamos Gold in a report released on Sunday, September 15th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings per share of $0.65 for the year, down from their previous forecast of $0.66. 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 $0.81 EPS and FY2026 earnings at $0.77 EPS.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly 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. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. During the same quarter in the previous year, the company earned $0.15 EPS. Alamos Gold’s revenue was up 27.4% on a year-over-year basis.

Several other brokerages have also recently commented on AGI. Jefferies Financial Group lifted their price target on shares of Alamos Gold from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada lifted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank boosted their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.81.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $20.20 on Wednesday. Alamos Gold has a one year low of $10.78 and a one year high of $21.14. The company has a 50 day moving average of $18.30 and a 200-day moving average of $16.34. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 0.82 and a beta of 1.18.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s dividend payout ratio is currently 19.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baldwin Brothers LLC MA acquired a new position in shares of Alamos Gold in the second quarter valued at approximately $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold in the second quarter worth $48,000. Employees Retirement System of Texas bought a new stake in shares of Alamos Gold in the second quarter worth $88,000. St. Johns Investment Management Company LLC bought a new stake in shares of Alamos Gold in the first quarter worth $115,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of Alamos Gold in the first quarter worth $203,000. Institutional investors and hedge funds 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.