National Bank Financial Comments on Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities researchers at National Bank Financial issued their Q1 2024 EPS estimates for shares of Alamos Gold in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will post earnings of $0.14 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.64 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2024 earnings at $0.53 EPS and FY2025 earnings at $0.68 EPS.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The firm had revenue of $254.60 million during the quarter, compared to analysts’ expectations of $257.47 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 9.8% on a year-over-year basis.

A number of other equities research analysts have also recently commented on AGI. StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a research note on Sunday, April 14th. Royal Bank of Canada upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $16.00 in a research note on Thursday, January 11th. Jefferies Financial Group upped their price objective on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Finally, Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and raised their price objective for the company from $21.75 to $27.25 in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Alamos Gold Trading Down 3.6 %

Shares of Alamos Gold stock opened at $14.76 on Monday. The company has a market cap of $5.87 billion, a P/E ratio of 27.84, a PEG ratio of 3.89 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 50-day moving average price of $13.51 and a two-hundred day moving average price of $13.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AGI. AE Wealth Management LLC grew its position in shares of Alamos Gold by 2.8% during the 3rd quarter. AE Wealth Management LLC now owns 38,692 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 1,049 shares during the period. SG Americas Securities LLC increased its position in Alamos Gold by 23.4% in the third quarter. SG Americas Securities LLC now owns 45,886 shares of the basic materials company’s stock worth $518,000 after buying an additional 8,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Alamos Gold by 14.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,886 shares of the basic materials company’s stock valued at $631,000 after buying an additional 7,050 shares during the period. Raymond James & Associates lifted its position in shares of Alamos Gold by 2.1% during the 3rd quarter. Raymond James & Associates now owns 271,033 shares of the basic materials company’s stock valued at $3,060,000 after buying an additional 5,652 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Alamos Gold by 23.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 68,925 shares of the basic materials company’s stock valued at $778,000 after buying an additional 12,991 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.025 dividend. The ex-dividend date 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 presently 18.87%.

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.