Analysts Set Expectations for Alamos Gold Inc.’s Q1 2024 Earnings (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Desjardins issued their Q1 2024 EPS estimates for shares of Alamos Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the basic materials company will earn $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 posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $277.60 million for the quarter, compared to analyst estimates of $271.15 million. Alamos Gold had a net margin of 19.41% and a return on equity of 7.43%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group lifted their price target on Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Alamos Gold from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday, April 14th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Trading Up 2.1 %

Shares of AGI stock opened at $15.30 on Thursday. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $16.01. The stock has a 50 day moving average of $13.79 and a 200 day moving average of $13.25. The stock has a market cap of $6.09 billion, a P/E ratio of 29.42, a P/E/G ratio of 3.79 and a beta of 1.15.

Institutional Investors Weigh In On Alamos Gold

Several hedge funds and other institutional investors have recently bought and sold shares of AGI. Norges Bank purchased a new stake in Alamos Gold in the fourth quarter valued at $64,117,000. Ninety One UK Ltd lifted its position in Alamos Gold by 84.9% in the fourth 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 boosted its stake in Alamos Gold by 3,490.2% during the fourth quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock worth $16,373,000 after buying an additional 1,179,695 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Alamos Gold by 396.9% during the fourth 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 last quarter. Finally, Caldwell Investment Management Ltd. purchased a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $5,922,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

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.