Alamos Gold (NYSE:AGI) Lowered to Hold at StockNews.com

StockNews.com cut shares of Alamos Gold (NYSE:AGI) (TSE:AGI) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other research firms have also weighed in on AGI. 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. Royal Bank of Canada upgraded shares of Alamos Gold from a sector perform rating to an outperform rating and lifted their price target for the company from $12.00 to $16.00 in a report on Thursday, January 11th. Finally, National Bank Financial reissued an outperform overweight rating on shares of Alamos Gold in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $14.38.

Alamos Gold Trading Up 1.4 %

AGI opened at $14.75 on Thursday. Alamos Gold has a 12-month low of $10.78 and a 12-month high of $14.95. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.35 and a beta of 1.12. The company’s 50 day moving average is $12.60 and its 200 day moving average is $12.79.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $254.60 million for the quarter, compared to the consensus estimate of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, analysts predict that Alamos Gold will post 0.6 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.025 dividend. 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 0.68%. Alamos Gold’s payout ratio is currently 18.87%.

Institutional Trading of Alamos Gold

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Alamos Gold by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock worth $194,224,000 after acquiring an additional 216,280 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Alamos Gold by 6.7% during the 1st quarter. Renaissance Technologies LLC now owns 9,177,531 shares of the basic materials company’s stock valued at $77,275,000 after purchasing an additional 579,511 shares during the last quarter. Norges Bank bought a new stake in Alamos Gold in the fourth quarter worth $64,117,000. FMR LLC lifted its position in Alamos Gold by 24.3% in the second quarter. FMR LLC now owns 4,411,128 shares of the basic materials company’s stock worth $30,945,000 after buying an additional 863,013 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Alamos Gold by 4.9% during the third quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock worth $42,502,000 after buying an additional 175,117 shares during the period. 64.33% of the stock is currently owned by hedge funds and other 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.