National Bank Financial Comments on Alamos Gold Q3 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share estimates for Alamos Gold in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the basic materials company will post earnings per share of $0.21 for the quarter. 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.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada lifted their price objective on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. StockNews.com cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Scotiabank raised their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Trading Down 0.0 %

AGI opened at $21.09 on Thursday. The company has a market cap of $8.42 billion, a P/E ratio of 40.56, a P/E/G ratio of 0.86 and a beta of 1.18. The business’s 50-day moving average price is $19.80 and its 200-day moving average price is $17.47. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data 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 return on equity of 8.52% and a net margin of 17.73%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share.

Institutional Trading of Alamos Gold

Several large investors have recently bought and sold shares of AGI. Mackenzie Financial Corp boosted its position in Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after acquiring an additional 4,521,282 shares in the last quarter. Van ECK Associates Corp boosted its position in Alamos Gold by 8.3% during 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alamos Gold by 71.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after acquiring an additional 2,756,759 shares in the last quarter. CIBC Asset Management Inc boosted its position in Alamos Gold by 311.9% during the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock valued at $42,480,000 after acquiring an additional 2,051,935 shares in the last quarter. Finally, Triasima Portfolio Management inc. boosted its position in Alamos Gold by 328.2% during the 2nd quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock valued at $21,779,000 after acquiring an additional 1,064,629 shares in the last quarter. 64.33% of the stock is owned by institutional investors.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.47%. Alamos Gold’s payout ratio is 19.23%.

About Alamos Gold

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.