Alamos Gold (NYSE:AGI) Hits New 52-Week High – Here’s Why

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.40 and last traded at $26.46, with a volume of 1144180 shares traded. The stock had previously closed at $25.67.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AGI. Royal Bank of Canada upped their price objective on shares of Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. National Bank Financial raised Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $26.06.

Alamos Gold Price Performance

The stock has a market cap of $11.22 billion, a PE ratio of 38.67, a P/E/G ratio of 0.40 and a beta of 1.15. The business has a fifty day simple moving average of $22.85 and a two-hundred day simple moving average of $20.62. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. Research analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, March 13th. Alamos Gold’s payout ratio is currently 14.49%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Alamos Gold by 155.7% during the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock valued at $38,000 after buying an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Alamos Gold by 51.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 856 shares during the last quarter. R Squared Ltd bought a new position in Alamos Gold in the 4th quarter worth about $61,000. Cutler Capital Management LLC purchased a new stake in Alamos Gold during the 4th quarter valued at about $108,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Alamos Gold during the 4th quarter valued at about $136,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.