Scotiabank Weighs in on Alamos Gold FY2024 Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – Equities research analysts at Scotiabank issued their FY2024 earnings estimates for Alamos Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib anticipates that the basic materials company will earn $0.81 per share for the year. The consensus estimate for Alamos Gold’s current full-year earnings is $0.77 per share. Scotiabank also issued estimates for Alamos Gold’s FY2025 earnings at $1.18 EPS.

A number of other analysts also recently commented on AGI. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $25.06.

Alamos Gold Stock Performance

AGI opened at $19.34 on Friday. The business has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $18.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.15. Alamos Gold has a 1-year low of $11.24 and a 1-year high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The company had revenue of $360.90 million during the quarter.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Thursday, December 5th. Alamos Gold’s dividend payout ratio (DPR) is presently 16.67%.

Hedge Funds Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hara Capital LLC acquired a new stake in Alamos Gold during the 3rd quarter worth about $47,000. Daiwa Securities Group Inc. acquired a new stake in shares of Alamos Gold during the second quarter valued at approximately $48,000. Employees Retirement System of Texas acquired a new stake in shares of Alamos Gold during the second quarter valued at approximately $88,000. Eastern Bank purchased a new stake in shares of Alamos Gold in the 3rd quarter valued at approximately $111,000. Finally, Plato Investment Management Ltd purchased a new position in Alamos Gold during the 3rd quarter worth approximately $147,000. 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.