Alamos Gold (NYSE:AGI) Hits New 52-Week High Following Analyst Upgrade

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $25.00 to $27.00. Royal Bank of Canada currently has an outperform rating on the stock. Alamos Gold traded as high as $23.06 and last traded at $22.80, with a volume of 3024939 shares changing hands. The stock had previously closed at $22.18.

Several other research analysts have also issued reports on the stock. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Buy” and a consensus price target of $26.06.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Alamos Gold during the fourth quarter worth $100,694,000. CIBC Asset Management Inc raised its stake in Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after buying an additional 2,867,027 shares during the period. FMR LLC lifted its holdings in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after acquiring an additional 2,148,153 shares in the last quarter. Addenda Capital Inc. acquired a new position in Alamos Gold in the fourth quarter valued at about $34,869,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Alamos Gold in the fourth quarter worth about $28,950,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Up 1.6 %

The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $9.61 billion, a P/E ratio of 38.08, a P/E/G ratio of 0.66 and a beta of 1.16. The firm has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $19.40.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.44%. Alamos Gold’s dividend payout ratio (DPR) is currently 16.67%.

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.