Research Analysts Issue Forecasts for Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at National Bank Financial issued their Q1 2024 earnings estimates for Alamos Gold in a report released on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the basic materials company will post earnings per share of $0.14 for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.64 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2024 earnings at $0.53 EPS and FY2025 earnings at $0.68 EPS.

AGI has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Finally, Royal Bank of Canada raised their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.15.

Alamos Gold Trading Up 2.5 %

NYSE AGI opened at $15.13 on Monday. The company has a fifty day simple moving average of $13.58 and a two-hundred day simple moving average of $13.20. The stock has a market cap of $6.02 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.89 and a beta of 1.15. Alamos Gold has a 12-month low of $10.78 and a 12-month high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.66%. Alamos Gold’s dividend payout ratio (DPR) is presently 18.87%.

Institutional Trading of Alamos Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in Alamos Gold during the fourth quarter valued at $27,000. AJOVista LLC acquired a new stake in shares of Alamos Gold in the fourth quarter valued at about $83,000. Fifth Third Bancorp acquired a new stake in shares of Alamos Gold in the fourth quarter valued at about $96,000. Venturi Wealth Management LLC grew its position in shares of Alamos Gold by 20.7% in the first quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 1,200 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Alamos Gold in the first quarter valued at about $115,000. 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.