FY2023 EPS Estimates for Alamos Gold Inc. (NYSE:AGI) Cut by Analyst

Alamos Gold Inc. (NYSE:AGIFree Report) (TSE:AGI) – Stock analysts at National Bank Financial reduced their FY2023 EPS estimates for Alamos Gold in a research note issued on Monday, February 5th. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings per share of $0.51 for the year, down from their previous forecast of $0.53. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.53 per share. National Bank Financial also issued estimates for Alamos Gold’s Q4 2023 earnings at $0.11 EPS and FY2024 earnings at $0.57 EPS.

Several other equities research analysts have also recently issued reports on AGI. Desjardins started coverage on shares of Alamos Gold in a research report on Tuesday, October 24th. They set a “hold” rating on the stock. StockNews.com lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $16.00 in a report on Thursday, January 11th. Finally, Scotiabank raised their target price on shares of Alamos Gold from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.38.

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Alamos Gold Price Performance

Alamos Gold stock opened at $12.10 on Wednesday. The stock has a market cap of $4.80 billion, a P/E ratio of 23.73, a PEG ratio of 1.35 and a beta of 1.15. Alamos Gold has a 1 year low of $9.78 and a 1 year high of $14.95. The firm’s 50 day moving average price is $13.10 and its 200-day moving average price is $12.59.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, December 5th. Alamos Gold’s payout ratio is 19.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new stake in shares of Alamos Gold during the fourth quarter valued at $27,000. IFP Advisors Inc purchased a new stake in shares of Alamos Gold during the second quarter valued at $39,000. Tower Research Capital LLC TRC boosted its stake in shares of Alamos Gold by 230.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,948 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 2,752 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Alamos Gold during the third quarter valued at $81,000. Finally, AJOVista LLC purchased a new stake in shares of Alamos Gold during the fourth quarter valued at $83,000. 54.99% of the stock is owned by hedge funds and other institutional investors.

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 and silver 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.

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