Scotiabank Predicts Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at Scotiabank issued their FY2024 earnings estimates for Alamos Gold in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib expects that the basic materials company will post earnings per share of $0.81 for the year. The consensus estimate for Alamos Gold’s current full-year earnings is $0.77 per share. Scotiabank also issued estimates for Alamos Gold’s FY2025 earnings at $1.18 EPS.

AGI has been the topic of several other reports. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.06.

Alamos Gold Trading Up 0.9 %

Shares of AGI opened at $19.50 on Friday. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45. The stock’s 50-day moving average is $18.83 and its two-hundred day moving average is $18.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The stock has a market cap of $8.19 billion, a PE ratio of 32.50, a P/E/G ratio of 0.93 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The business had revenue of $360.90 million for the quarter.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC raised its holdings in Alamos Gold by 8.6% in the fourth quarter. CWA Asset Management Group LLC now owns 43,210 shares of the basic materials company’s stock valued at $797,000 after acquiring an additional 3,427 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Alamos Gold by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,737,200 shares of the basic materials company’s stock valued at $34,655,000 after purchasing an additional 61,700 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Alamos Gold by 267.0% during the third quarter. Tidal Investments LLC now owns 68,735 shares of the basic materials company’s stock worth $1,371,000 after purchasing an additional 50,005 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Alamos Gold during the third quarter worth about $413,000. Finally, Virtu Financial LLC acquired a new position in Alamos Gold in the third quarter worth about $724,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.51%. Alamos Gold’s dividend payout ratio is presently 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.