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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) declared 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 raised its dividend by 225.0% over the last three years and has increased 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 Thursday. The firm’s 50 day moving average price is $7.80 and its 200-day moving average price is $8.01. Alamos Gold has a 52-week low of $6.94 and a 52-week high of $9.87. The company has a market cap of $3.12 billion, a PE 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 released its quarterly earnings data on Tuesday, October 26th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Alamos Gold had a negative net margin of 2.28% and a positive return on equity of 6.57%. The business had revenue of $198.00 million for the quarter, compared to the consensus estimate of $221.49 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Alamos Gold’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, equities research analysts expect that Alamos Gold will post 0.45 earnings per share for the current year.

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

A hedge fund recently raised its stake in Alamos Gold stock. Morgan Stanley lifted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 111.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,969,441 shares of the basic materials company’s stock after buying an additional 1,038,531 shares during the period. Morgan Stanley owned approximately 0.50% of Alamos Gold worth $15,064,000 at the end of the most recent quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

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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