Alamos Gold (NYSE:AGI) Trading 5.7% Higher

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price rose 5.7% during trading on Thursday . The company traded as high as $19.97 and last traded at $19.97. Approximately 1,139,600 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 2,271,338 shares. The stock had previously closed at $18.89.

Analysts Set New Price Targets

AGI has been the subject of a number of recent research reports. National Bank Financial cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Royal Bank of Canada boosted their price target on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group increased their price objective on Alamos Gold from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Scotiabank boosted their target price on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.31.

Alamos Gold Stock Performance

The firm has a market capitalization of $8.05 billion, a PE ratio of 38.15, a P/E/G ratio of 0.78 and a beta of 1.18. The firm has a fifty day moving average of $17.92 and a 200 day moving average of $16.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The company’s revenue was up 27.4% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. Research analysts forecast that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Thursday, September 12th. Alamos Gold’s payout ratio is currently 19.23%.

Institutional Trading of Alamos Gold

Several institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its position in shares of Alamos Gold by 11.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 127,364 shares of the basic materials company’s stock worth $1,997,000 after purchasing an additional 13,450 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Alamos Gold during the second quarter valued at approximately $1,967,000. Lloyd Harbor Capital Management LLC lifted its holdings in Alamos Gold by 3.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 590,000 shares of the basic materials company’s stock worth $9,251,000 after buying an additional 20,000 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Alamos Gold by 147.6% in the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Alamos Gold by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,027,515 shares of the basic materials company’s stock valued at $31,758,000 after acquiring an additional 84,787 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

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.