Alamos Gold FY2024 EPS Increased by National Bank Financial

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Alamos Gold in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings of $0.84 per share for the year, up from their prior forecast of $0.65. 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. National Bank Financial also issued estimates for Alamos Gold’s FY2025 earnings at $1.14 EPS.

AGI has been the subject of several other research reports. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group raised their price target 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. Scotiabank boosted their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada raised their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.06.

Alamos Gold Stock Down 0.0 %

Shares of AGI stock opened at $21.09 on Friday. Alamos Gold has a twelve month low of $11.24 and a twelve month high of $21.45. The stock’s fifty day simple moving average is $19.80 and its 200 day simple moving average is $17.47. The firm has a market capitalization 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.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s revenue was up 27.4% on a year-over-year basis.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.47%. Alamos Gold’s payout ratio is currently 19.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AGI. Baldwin Brothers LLC MA bought a new stake in Alamos Gold in the second quarter valued at $47,000. Daiwa Securities Group Inc. acquired a new position in Alamos Gold during the 2nd quarter worth approximately $48,000. Eastern Bank bought a new position in Alamos Gold in the third quarter worth approximately $111,000. Employees Retirement System of Texas acquired a new stake in Alamos Gold in the second quarter valued at approximately $88,000. Finally, Legacy Capital Group California Inc. bought a new stake in shares of Alamos Gold during the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

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.