Alamos Gold’s (AGI) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Alamos Gold (NYSE:AGI) (TSE:AGI) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $42.00 price objective on the basic materials company’s stock.

Several other research firms also recently issued reports on AGI. Jefferies Financial Group dropped their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Weiss Ratings cut Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Price Performance

AGI opened at $35.77 on Wednesday. The firm has a 50-day moving average price of $33.24 and a 200-day moving average price of $38.22. Alamos Gold has a twelve month low of $27.05 and a twelve month high of $55.41. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.48 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $594.10 million for the quarter, compared to analysts’ expectations of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. Alamos Gold’s revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Equities analysts expect that Alamos Gold will post 2.12 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.04 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.4%. Alamos Gold’s dividend payout ratio is currently 5.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AGI. Arrowstreet Capital Limited Partnership increased its holdings in shares of Alamos Gold by 11.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock worth $351,072,000 after purchasing an additional 964,317 shares during the period. CIBC Asset Management Inc boosted its stake in Alamos Gold by 6.3% during the fourth 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 during the period. Renaissance Technologies LLC boosted its stake in Alamos Gold by 1.8% during the first quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock valued at $227,400,000 after buying an additional 92,227 shares during the period. Norges Bank bought a new stake in Alamos Gold during the fourth quarter valued at $219,475,000. Finally, The Manufacturers Life Insurance Company grew its position in Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after buying an additional 1,216,977 shares in the last quarter. 64.33% of the stock is owned by institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold’s principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.