Alamos Gold (NYSE:AGI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a research note published on Saturday.

Several other research analysts also recently weighed in on AGI. Desjardins started coverage on Alamos Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a research report on Sunday, December 7th. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Finally, Zacks Research lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $43.00.

Alamos Gold Trading Down 3.3%

Shares of AGI stock opened at $38.95 on Friday. The stock has a 50-day moving average of $37.65 and a 200-day moving average of $32.69. Alamos Gold has a 1-year low of $19.07 and a 1-year high of $43.87. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 0.37 and a beta of 0.63. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The business’s revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. On average, equities research analysts forecast that Alamos Gold will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) is currently 7.81%.

Institutional Investors Weigh In On Alamos Gold

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its position in Alamos Gold by 20.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock worth $390,000 after purchasing an additional 2,493 shares in the last quarter. Addenda Capital Inc. increased its stake in Alamos Gold by 12.3% during the second quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after purchasing an additional 212,918 shares during the last quarter. Calamos Wealth Management LLC acquired a new stake in shares of Alamos Gold in the 2nd quarter worth about $3,070,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Alamos Gold in the 2nd quarter worth approximately $1,502,000. Finally, PCJ Investment Counsel Ltd. lifted its holdings in Alamos Gold by 37.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after acquiring an additional 23,560 shares during the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.