Analysts Offer Predictions for Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Alamos Gold in a report released on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the basic materials company will post earnings of $0.79 per share for the year, up from their previous forecast of $0.78. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.81 per share.

Several other research analysts also recently issued reports on AGI. Royal Bank of Canada lifted their price target on Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.06.

Alamos Gold Stock Up 1.6 %

AGI opened at $22.85 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 0.66 and a beta of 1.16. Alamos Gold has a one year low of $11.24 and a one year high of $23.06. The business’s fifty day moving average is $19.71 and its two-hundred day moving average is $19.40.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors and hedge funds have recently bought and sold shares of AGI. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock valued at $295,105,000 after purchasing an additional 279,280 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock worth $173,991,000 after buying an additional 1,424,550 shares during the period. CIBC Asset Management Inc increased its stake in Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after buying an additional 2,867,027 shares during the period. FMR LLC lifted its holdings in Alamos Gold by 50.8% in the 3rd quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after buying an additional 2,148,153 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Alamos Gold by 19.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company’s stock valued at $110,662,000 after buying an additional 891,255 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.10 annualized dividend and a dividend yield of 0.44%. Alamos Gold’s 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.