Alamos Gold (NYSE:AGI) Trading 5.4% Higher – What’s Next?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shot up 5.4% during mid-day trading on Tuesday . The stock traded as high as $19.53 and last traded at $19.53. 986,246 shares changed hands during trading, a decline of 58% from the average session volume of 2,353,035 shares. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AGI. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group upped their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank upped their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.06.

Alamos Gold Trading Up 1.0 %

The firm’s 50 day moving average price is $19.54 and its 200-day moving average price is $18.27. The stock has a market cap of $8.22 billion, a P/E ratio of 32.60, a P/E/G ratio of 0.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $360.90 million during the quarter. Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. As a group, equities research analysts forecast that Alamos Gold Inc. will post 0.77 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. Alamos Gold’s dividend payout ratio is presently 16.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC lifted its position in Alamos Gold by 81.9% during the second quarter. Murphy Pohlad Asset Management LLC now owns 135,870 shares of the basic materials company’s stock valued at $2,130,000 after purchasing an additional 61,155 shares during the period. Old West Investment Management LLC lifted its position in Alamos Gold by 11.0% during the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock valued at $9,689,000 after purchasing an additional 48,128 shares during the period. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Alamos Gold during the third quarter valued at approximately $1,196,000. Mackenzie Financial Corp lifted its position in Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after purchasing an additional 4,521,282 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Alamos Gold during the third quarter valued at approximately $793,000. 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.