Alamos Gold (NYSE:AGI) PT Raised to $22.00 at Scotiabank

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price objective hoisted by Scotiabank from $20.00 to $22.00 in a research note released on Monday, Benzinga reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada upped their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the company an outperform rating in a research report on Tuesday, April 23rd. StockNews.com raised Alamos Gold from a hold rating to a buy rating in a research note on Thursday, May 16th. Finally, Jefferies Financial Group boosted their target price on Alamos Gold from $20.00 to $21.00 and gave the company a buy rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $22.06.

Alamos Gold Price Performance

Shares of AGI opened at $19.46 on Monday. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 0.78 and a beta of 1.16. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $20.24. The business’s 50 day simple moving average is $17.01 and its 200-day simple moving average is $15.33.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.63%. The company had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. Alamos Gold’s quarterly revenue was up 27.4% on a year-over-year basis. On average, sell-side analysts expect that Alamos Gold will post 0.72 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, June 13th. Alamos Gold’s dividend payout ratio (DPR) is currently 19.23%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its holdings in shares of Alamos Gold by 11.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 127,364 shares of the basic materials company’s stock worth $1,997,000 after buying an additional 13,450 shares during the period. Lighthouse Investment Partners LLC bought a new position in Alamos Gold in the second quarter worth approximately $1,967,000. Lloyd Harbor Capital Management LLC grew its stake in Alamos Gold by 3.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 590,000 shares of the basic materials company’s stock worth $9,251,000 after purchasing an additional 20,000 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after purchasing an additional 4,521,282 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Alamos Gold by 4.4% during 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 purchasing an additional 84,787 shares in the last quarter. Hedge funds and other 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.