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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at National Bank Financial issued their Q1 2024 EPS estimates for shares of Alamos Gold in a note issued to investors 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 currently 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 brokerages have also commented on AGI. Royal Bank of Canada raised Alamos Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $16.00 in a report on Thursday, January 11th. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday, April 14th. Finally, Jefferies Financial Group began coverage on Alamos Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective for the company. Three research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.95.

Alamos Gold Stock Performance

AGI opened at $15.30 on Monday. The company’s 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $13.15. Alamos Gold has a 52-week low of $10.78 and a 52-week high of $16.01. The stock has a market capitalization of $6.09 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.85 and a beta of 1.15.

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

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, March 13th. Alamos Gold’s payout ratio is 18.87%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently added to or reduced their stakes in AGI. Mackenzie Financial Corp boosted its holdings in Alamos Gold by 9.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company’s stock valued at $40,525,000 after acquiring an additional 258,688 shares during the period. Ninety One UK Ltd increased its stake in Alamos Gold by 84.9% in the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after buying an additional 1,378,456 shares during the period. Raymond James & Associates lifted its holdings in Alamos Gold by 74.5% during the 4th quarter. Raymond James & Associates now owns 472,938 shares of the basic materials company’s stock valued at $6,370,000 after buying an additional 201,905 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 1.4% during the third quarter. Vanguard Group Inc. now owns 14,202,762 shares of the basic materials company’s stock valued at $160,349,000 after acquiring an additional 202,396 shares in the last quarter. Finally, Genus Capital Management Inc. grew its position in shares of Alamos Gold by 367.0% during the 3rd quarter. Genus Capital Management Inc. now owns 326,000 shares of the basic materials company’s stock worth $3,694,000 after buying an additional 256,200 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Company Profile

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.