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

Alamos Gold Inc. (NYSE:AGIFree Report) (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. 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.

Get Our Latest Report on AGI

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:AGIGet Free Report) (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

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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.

Further Reading

Earnings History and Estimates for Alamos Gold (NYSE:AGI)

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