Alamos Gold’s (AGI) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their buy (b) rating on shares of Alamos Gold (NYSE:AGI) (TSE:AGI) in a report published on Wednesday morning,Weiss Ratings reports.

A number of other research firms have also weighed in on AGI. Stifel Canada upgraded shares of Alamos Gold to a “strong-buy” rating in a research report on Tuesday, July 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. CIBC restated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, National Bankshares restated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.17.

Alamos Gold Stock Performance

AGI opened at $33.03 on Wednesday. The firm has a market cap of $13.89 billion, a P/E ratio of 39.80, a PEG ratio of 0.67 and a beta of 0.50. Alamos Gold has a 1-year low of $17.42 and a 1-year high of $35.61. The company has a 50 day simple moving average of $30.68 and a two-hundred day simple moving average of $27.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $438.20 million during the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The company’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Equities analysts forecast that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. Alamos Gold’s dividend payout ratio is currently 12.05%.

Institutional Investors Weigh In On Alamos Gold

Several hedge funds and other institutional investors have recently made changes to their positions in AGI. Norges Bank purchased a new stake in shares of Alamos Gold in the second quarter valued at $144,808,000. Geode Capital Management LLC raised its stake in shares of Alamos Gold by 639.2% in the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares during the period. CIBC Asset Management Inc raised its stake in shares of Alamos Gold by 29.3% in 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 acquiring an additional 2,521,347 shares during the period. Mackenzie Financial Corp raised its stake in shares of Alamos Gold by 32.3% in the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after acquiring an additional 2,192,593 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Alamos Gold in the first quarter valued at $37,738,000. 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.