Alamos Gold FY2024 EPS Boosted by National Bank Financial

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – National Bank Financial raised their FY2024 earnings per share estimates for Alamos Gold in a report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will earn $0.79 per share for the year, up from their previous forecast of $0.78. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.81 per share.

AGI has been the topic of several other research reports. Royal Bank of Canada upped their price target on shares of Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.06.

Alamos Gold Trading Up 0.8 %

NYSE:AGI opened at $23.04 on Thursday. The company has a market cap of $9.68 billion, a P/E ratio of 38.40, a P/E/G ratio of 0.66 and a beta of 1.16. Alamos Gold has a 1 year low of $11.27 and a 1 year high of $23.08. The stock’s fifty day moving average price is $19.77 and its two-hundred day moving average price is $19.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97.

Institutional Trading of Alamos Gold

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Alamos Gold in the fourth quarter worth about $100,694,000. CIBC Asset Management Inc lifted its holdings in Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after buying an additional 2,867,027 shares during the period. FMR LLC lifted its holdings in Alamos Gold by 50.8% in the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after buying an additional 2,148,153 shares during the period. Addenda Capital Inc. purchased a new stake in Alamos Gold in the fourth quarter worth about $34,869,000. Finally, Raymond James Financial Inc. purchased a new stake in Alamos Gold in the fourth quarter worth about $28,950,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.43%. Alamos Gold’s dividend payout ratio is currently 16.67%.

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.