Alamos Gold (NYSE:AGI) Given New $49.00 Price Target at Jefferies Financial Group

Alamos Gold (NYSE:AGI) (TSE:AGI) had its price target reduced by Jefferies Financial Group from $50.00 to $49.00 in a research report sent to investors on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also commented on AGI. Weiss Ratings lowered Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Bank of America lowered their target price on Alamos Gold from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Finally, Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $53.00.

Alamos Gold Trading Down 0.2%

AGI stock opened at $31.52 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41. The business has a 50 day simple moving average of $37.57 and a two-hundred day simple moving average of $41.70. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.43 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Research analysts anticipate that Alamos Gold will post 2.35 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s dividend payout ratio is 6.37%.

Institutional Trading of Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlantic Union Bankshares Corp purchased a new stake in shares of Alamos Gold during the fourth quarter valued at $25,000. Clearstead Advisors LLC lifted its holdings in Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after buying an additional 251 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after buying an additional 222 shares in the last quarter. Parallel Advisors LLC purchased a new stake in Alamos Gold in the 1st quarter valued at about $35,000. Finally, Bayforest Capital Ltd bought a new position in Alamos Gold in the 4th quarter worth about $44,000. 64.33% of the stock is currently owned by institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.