Alamos Gold (NYSE:AGI) Sets New 52-Week High at $20.78

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price hit a new 52-week high on Friday . The stock traded as high as $20.78 and last traded at $20.78, with a volume of 70534 shares. The stock had previously closed at $20.06.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Scotiabank increased their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 12th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Royal Bank of Canada boosted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.31.

Alamos Gold Stock Up 2.5 %

The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 0.82 and a beta of 1.18. The company’s fifty day moving average is $18.00 and its two-hundred day moving average is $16.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. Alamos Gold’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. Sell-side analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.49%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Alamos Gold by 8.3% in 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 during the period. Vanguard Group Inc. grew its holdings in shares of Alamos Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after buying an additional 250,207 shares during the last quarter. Mackenzie Financial Corp increased its position in Alamos Gold by 147.6% in 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 during the period. Price T Rowe Associates Inc. MD raised its stake 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 during the last quarter. Finally, Norges Bank purchased a new position in shares of Alamos Gold in the 4th quarter valued at approximately $64,117,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

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.