Alamos Gold (NYSE:AGI) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other analysts have also issued reports on the company. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Scotiabank upped their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Desjardins began coverage on shares of Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Alamos Gold Trading Up 4.6%

Shares of Alamos Gold stock opened at $47.95 on Friday. The company has a market capitalization of $20.13 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 0.45 and a beta of 0.61. The stock has a fifty day simple moving average of $41.09 and a 200 day simple moving average of $35.42. Alamos Gold has a 12-month low of $22.03 and a 12-month high of $48.07. The company has a current ratio of 2.00, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The company had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. During the same period last year, the firm earned $0.25 earnings per share. The firm’s revenue was up 53.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.04 per share. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s dividend payout ratio is presently 4.76%.

Institutional Trading of Alamos Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after purchasing an additional 1,227,695 shares during the period. Empowered Funds LLC purchased a new position in Alamos Gold during the first quarter worth about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alamos Gold by 129.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock worth $27,111,000 after buying an additional 571,536 shares in the last quarter. CWM LLC increased its stake in Alamos Gold by 125.9% in the 2nd quarter. CWM LLC now owns 7,115 shares of the basic materials company’s stock worth $189,000 after acquiring an additional 3,965 shares during the last quarter. Finally, Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Alamos Gold in the 2nd quarter valued at about $1,905,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

About Alamos Gold

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.