Brokers Set Expectations for Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at National Bank Financial cut their FY2024 EPS estimates for Alamos Gold in a report released on Tuesday, January 14th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings of $0.78 per share for the year, down from their prior estimate of $0.83. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.82 per share.

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

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.06.

Alamos Gold Stock Performance

AGI stock opened at $19.45 on Thursday. 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 company has a 50 day moving average price of $18.79 and a 200 day moving average price of $18.85. Alamos Gold has a fifty-two week low of $11.24 and a fifty-two week high of $21.45. The stock has a market capitalization of $8.17 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15.

Institutional Trading of Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Alamos Gold by 51.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 856 shares during the last quarter. Hara Capital LLC bought a new stake in shares of Alamos Gold during the 3rd quarter valued at $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold during the 2nd quarter valued at $48,000. Employees Retirement System of Texas bought a new stake in shares of Alamos Gold during the 2nd quarter valued at $88,000. Finally, Eastern Bank bought a new stake in shares of Alamos Gold in the 3rd quarter valued at $111,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, December 5th. Alamos Gold’s payout ratio is 16.67%.

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.