Alamos Gold (NYSE:AGI) Reaches New 52-Week High After Analyst Upgrade

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $25.00 to $27.00. Royal Bank of Canada currently has an outperform rating on the stock. Alamos Gold traded as high as $23.06 and last traded at $22.80, with a volume of 3024939 shares traded. The stock had previously closed at $22.18.

AGI has been the topic of a number of other reports. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $26.06.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Alamos Gold in the fourth quarter valued at $100,694,000. CIBC Asset Management Inc raised its position in Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after purchasing an additional 2,867,027 shares during the period. FMR LLC raised its position in Alamos Gold by 50.8% in the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after purchasing an additional 2,148,153 shares during the period. Addenda Capital Inc. purchased a new stake in Alamos Gold in the fourth quarter valued at $34,869,000. Finally, Raymond James Financial Inc. purchased a new stake in Alamos Gold in the fourth quarter valued at $28,950,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The company has a market cap of $9.61 billion, a PE ratio of 38.08, a P/E/G ratio of 0.66 and a beta of 1.16. The stock has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $19.40.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.025 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a yield of 0.44%. Alamos Gold’s dividend payout ratio is currently 16.67%.

About Alamos Gold

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.