Alamos Gold Inc. (NYSE:AGI, TSE:AGI) has received a consensus rating of “Buy” from analysts following the company, according to MarketBeat.com. This assessment comes from seven ratings firms, with one analyst recommending a hold, four advocating a buy, and two assigning a strong buy designation. The average target price for the stock over the next year stands at $30.38.
Several financial institutions have recently adjusted their ratings for Alamos Gold. On March 21, 2024, National Bank Financial raised its rating to “strong buy.” Conversely, Wall Street Zen downgraded the stock from a buy to a hold on May 5, 2024. Additionally, Royal Bank of Canada increased its target price from $27.00 to $30.00, giving the stock an “outperform” rating on April 4, 2024. Stifel Nicolaus also began coverage of Alamos Gold, issuing a buy rating shortly thereafter.
Stock Performance and Financial Metrics
Alamos Gold’s shares opened at $26.60 on Monday, with a 50-day moving average of $26.34 and a 200-day moving average of $24.53. The company boasts a market capitalization of $11.18 billion and has a price-to-earnings ratio of 42.90. Its return on equity stands at 9.83% with a net margin of 18.36%. Alamos Gold’s stock has fluctuated within a 12-month range, hitting a low of $15.74 and a high of $31.00.
On April 30, 2024, Alamos Gold released its quarterly earnings report, revealing earnings per share (EPS) of $0.14, which fell short of analysts’ expectations of $0.19 by $0.05. Despite this miss, the company generated $333.00 million in revenue for the quarter, surpassing the consensus estimate of $324.98 million. Year-over-year, the firm’s revenue increased by 20.0%, up from $0.13 EPS reported during the same period last year. Analysts predict that Alamos Gold will achieve an EPS of $1.29 for the current fiscal year.
Dividend Announcement
In addition to its earnings report, Alamos Gold recently declared a quarterly dividend, which was paid on June 26, 2024. Investors of record on June 12, 2024, received a dividend of $0.025, resulting in an annualized dividend of $0.10 and a dividend yield of 0.38%. The company’s dividend payout ratio currently stands at 16.13%.
Alamos Gold focuses on the acquisition, exploration, development, and extraction of precious metals, primarily gold, in Canada and Mexico. The company maintains a 100% interest in several key properties, including the Young-Davidson mine and Island Gold mine in Ontario, Canada, the Mulatos mine in Sonora, Mexico, and the Lynn Lake project in Manitoba, Canada.
As Alamos Gold continues to navigate the fluctuating market, analysts and investors will be keen to observe how the company adapts and performs amid evolving industry conditions.