Brokers Issue Forecasts for Alamos Gold Inc.’s Q1 2024 Earnings (TSE:AGI)

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Alamos Gold in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the company will post earnings per share of $0.19 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 $0.78 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2024 earnings at $0.73 EPS and FY2025 earnings at $0.94 EPS.

Alamos Gold (TSE:AGI) (NYSE:AGI) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$0.16 EPS for the quarter, hitting the consensus estimate of C$0.16. Alamos Gold had a return on equity of 7.44% and a net margin of 20.52%. The company had revenue of C$346.65 million during the quarter.

Several other research firms also recently commented on AGI. Royal Bank of Canada upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$12.00 to C$16.00 in a report on Thursday, January 11th. Desjardins reduced their price objective on Alamos Gold from C$19.50 to C$18.75 and set a “hold” rating for the company in a report on Friday, January 12th. TD Securities raised their target price on Alamos Gold from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. BMO Capital Markets raised their target price on Alamos Gold from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, National Bankshares dropped their target price on Alamos Gold from C$27.50 to C$27.00 in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.60.

Alamos Gold Price Performance

TSE AGI opened at C$20.64 on Monday. Alamos Gold has a one year low of C$14.80 and a one year high of C$22.00. The stock has a 50-day moving average of C$18.34 and a 200 day moving average of C$17.85. The company has a market capitalization of C$8.19 billion, a price-to-earnings ratio of 28.67, a PEG ratio of -2.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.36.

Alamos Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.034 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.66%. Alamos Gold’s dividend payout ratio (DPR) is presently 19.44%.

Insider Activity at Alamos Gold

In related news, Senior Officer Mario Luis Chavez – Martinez sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$18.66, for a total transaction of C$559,737.00. 0.29% of the stock is currently owned by corporate insiders.

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.