Alamos Gold (NYSE:AGI) Trading 9.9% Higher – Still a Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price traded up 9.9% during mid-day trading on Wednesday . The stock traded as high as $35.86 and last traded at $36.1530. 1,007,476 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,107,886 shares. The stock had previously closed at $32.90.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AGI. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Bank of America cut their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings cut Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Stock Performance

The firm has a market capitalization of $15.37 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The business’s fifty day simple moving average is $31.49 and its 200-day simple moving average is $39.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The firm had revenue of $594.10 million for the quarter, compared to the consensus estimate of $593.58 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. As a group, equities research analysts expect that Alamos Gold Inc. will post 2.18 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.4%. Alamos Gold’s payout ratio is presently 5.78%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Alamos Gold by 11.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock valued at $351,072,000 after buying an additional 964,317 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Alamos Gold by 6.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company’s stock valued at $338,372,000 after buying an additional 514,819 shares in the last quarter. Norges Bank bought a new stake in Alamos Gold in the 4th quarter worth approximately $219,475,000. Finally, Renaissance Technologies LLC increased its stake in Alamos Gold by 1.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock worth $227,400,000 after acquiring an additional 92,227 shares during the last quarter. 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.