Alamos Gold (NYSE:AGI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a research report report published on Sunday morning.

A number of other equities analysts have also weighed in on AGI. Royal Bank Of Canada decreased their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Jefferies Financial Group cut their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Price Performance

NYSE AGI opened at $27.83 on Friday. Alamos Gold has a 1 year low of $23.92 and a 1 year high of $55.41. The business’s fifty day moving average is $32.84 and its two-hundred day moving average is $40.27. The stock has a market capitalization of $11.65 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. On average, research analysts forecast that Alamos Gold will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Alamos Gold’s dividend payout ratio is currently 5.78%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Alamos Gold by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock worth $678,291,000 after buying an additional 332,335 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Alamos Gold by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after buying an additional 141,000 shares during the last quarter. Swiss National Bank raised its holdings in Alamos Gold by 26.8% in the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock worth $62,782,000 after acquiring an additional 298,900 shares during the period. DJE Kapital AG raised its holdings in Alamos Gold by 66.2% in the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock worth $12,665,000 after acquiring an additional 118,006 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Alamos Gold by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after acquiring an additional 1,216,977 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

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.