Alamos Gold Inc. Declares Quarterly Dividend of $0.03 (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) announced a quarterly dividend on Tuesday, November 23rd, Zacks reports. Stockholders of record on Tuesday, December 7th will be given a dividend of 0.025 per share by the basic materials company on Tuesday, December 21st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, December 6th.

Alamos Gold has increased its dividend payment by 225.0% over the last three years and has raised its dividend every year for the last 2 years. Alamos Gold has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alamos Gold to earn $0.34 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 29.4%.

NYSE:AGI opened at $7.94 on Wednesday. The firm’s fifty day moving average is $7.79 and its 200-day moving average is $8.01. Alamos Gold has a 52 week low of $6.94 and a 52 week high of $9.87. The firm has a market cap of $3.12 billion, a P/E ratio of -132.31, a P/E/G ratio of 1.99 and a beta of 1.03.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Tuesday, October 26th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The company had revenue of $198.00 million for the quarter, compared to the consensus estimate of $221.49 million. Alamos Gold had a positive return on equity of 6.57% and a negative net margin of 2.28%. The firm’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, equities analysts expect that Alamos Gold will post 0.45 EPS for the current year.

A hedge fund recently raised its stake in Alamos Gold stock. LPL Financial LLC grew its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 20.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,529 shares of the basic materials company’s stock after purchasing an additional 6,248 shares during the period. LPL Financial LLC’s holdings in Alamos Gold were worth $263,000 at the end of the most recent reporting period. Institutional investors own 65.60% of the company’s stock.

AGI has been the topic of several research analyst reports. TD Securities cut their target price on shares of Alamos Gold from C$15.50 to C$14.50 and set a “buy” rating on the stock in a research note on Friday, October 29th. National Bank Financial downgraded shares of Alamos Gold from an “outperform” rating to a “sector perform” rating in a report on Friday, October 22nd. TheStreet downgraded shares of Alamos Gold from a “b” rating to a “c-” rating in a report on Friday, July 30th. Finally, CIBC lowered their price objective on shares of Alamos Gold from C$15.50 to C$14.50 and set an “outperform” rating on the stock in a report on Thursday, October 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.17.

About Alamos Gold

Alamos Gold, Inc engages in the exploration, development, mining and extraction of precious metals. It operates through the following segments: Young-Davidson, Mulatos, Island Gold, Elchanate, Kirazli and Corporate and Other. The company was founded on February 21, 2003 and is headquartered in Toronto, Canada.

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Dividend History for Alamos Gold (NYSE:AGI)

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