Alamos Gold (NYSE:AGI) Hits New 52-Week High – Time to Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $45.38 and last traded at $45.4180, with a volume of 2479427 shares traded. The stock had previously closed at $43.85.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Finally, Scotiabank lifted their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Up 3.2%

The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 0.34 and a beta of 0.61. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $39.60 and a 200-day moving average price of $34.24.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) is presently 7.81%.

Institutional Investors Weigh In On Alamos Gold

Several hedge funds have recently made changes to their positions in AGI. Van ECK Associates Corp grew its position in Alamos Gold by 35.3% during the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock worth $1,587,666,000 after purchasing an additional 11,876,324 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Alamos Gold by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock worth $678,291,000 after buying an additional 332,335 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Alamos Gold by 29.3% during the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after buying an additional 2,521,347 shares in the last quarter. Mackenzie Financial Corp raised its position in Alamos Gold by 6.3% during the third quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock valued at $332,724,000 after buying an additional 567,926 shares during the period. Finally, Norges Bank purchased a new stake in Alamos Gold in the 4th quarter worth about $219,475,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.