Equities Analysts Offer Predictions for Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Investment analysts at Desjardins issued their Q1 2024 earnings per share estimates for shares of Alamos Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts that the basic materials company will post earnings per share of $0.12 for the quarter. The consensus estimate for Alamos Gold’s current full-year earnings is $0.66 per share.

AGI has been the subject of a number of other research reports. Bank of America raised Alamos Gold from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday, April 14th. Royal Bank of Canada raised their price objective on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Price Performance

Alamos Gold stock opened at $15.19 on Thursday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.68 and a beta of 1.15. Alamos Gold has a 1-year low of $10.78 and a 1-year high of $16.01. The business has a fifty day moving average price of $13.66 and a 200-day moving average price of $13.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS.

Alamos Gold Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.66%. Alamos Gold’s payout ratio is currently 18.87%.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors have recently modified their holdings of AGI. Norges Bank purchased a new position in shares of Alamos Gold during the 4th quarter valued at about $64,117,000. Ninety One UK Ltd raised its stake in shares of Alamos Gold by 84.9% during the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock valued at $40,580,000 after buying an additional 1,378,456 shares during the last quarter. Fiera Capital Corp grew its position in shares of Alamos Gold by 3,490.2% during the 4th quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock valued at $16,373,000 after acquiring an additional 1,179,695 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Alamos Gold by 396.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock valued at $19,215,000 after acquiring an additional 1,139,404 shares during the period. Finally, Caldwell Investment Management Ltd. acquired a new stake in shares of Alamos Gold during the 4th quarter valued at about $5,922,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

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.