Alamos Gold Inc. to Post Q1 2024 Earnings of $0.12 Per Share, Desjardins Forecasts (NYSE:AGI)

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

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $277.60 million during the quarter, compared to the consensus estimate of $271.15 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 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share.

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

Alamos Gold Stock Performance

Shares of NYSE:AGI opened at $14.97 on Thursday. Alamos Gold has a 52-week low of $10.78 and a 52-week high of $16.01. The company has a market capitalization of $5.96 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.77 and a beta of 1.15. The company has a fifty day moving average of $13.72 and a 200-day moving average of $13.22.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued 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 0.67%. Alamos Gold’s dividend payout ratio is presently 18.87%.

Institutional Investors Weigh In On Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC purchased a new stake in Alamos Gold in the 4th quarter valued at about $27,000. AJOVista LLC purchased a new stake in Alamos Gold in the 4th quarter valued at about $83,000. Fifth Third Bancorp purchased a new stake in Alamos Gold in the 4th quarter valued at about $96,000. Venturi Wealth Management LLC increased its stake in Alamos Gold by 20.7% in the 1st quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after buying an additional 1,200 shares during the last quarter. Finally, St. Johns Investment Management Company LLC purchased a new stake in Alamos Gold in the 1st quarter valued at about $115,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

About Alamos Gold

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.