Research Analysts Issue Forecasts for Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for Alamos Gold in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will earn $0.14 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.64 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2024 earnings at $0.53 EPS and FY2025 earnings at $0.68 EPS.

Several other equities research analysts also recently issued reports on AGI. Jefferies Financial Group increased their price target on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Royal Bank of Canada increased their price target on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and increased their price target for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.15.

Alamos Gold Trading Up 2.5 %

NYSE AGI opened at $15.13 on Monday. The stock has a 50-day simple moving average of $13.58 and a 200 day simple moving average of $13.20. The company has a market capitalization of $6.02 billion, a PE ratio of 28.55, a P/E/G ratio of 3.89 and a beta of 1.15. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $254.60 million during the quarter, compared to the consensus estimate of $257.47 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC acquired a new position in Alamos Gold during the fourth quarter valued at approximately $27,000. AJOVista LLC acquired a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $83,000. Fifth Third Bancorp acquired a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $96,000. Venturi Wealth Management LLC lifted its position in shares of Alamos Gold by 20.7% in the first quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after buying an additional 1,200 shares during the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Alamos Gold in the first quarter valued at approximately $115,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.66%. Alamos Gold’s dividend payout ratio is currently 18.87%.

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.