Alamos Gold Inc. (NYSE:AGI) Raises Dividend to $0.04 Per Share

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) declared a quarterly dividend on Wednesday, February 18th. Investors of record on Thursday, March 12th will be given a dividend of 0.04 per share by the basic materials company on Thursday, March 26th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, March 12th. This is a 60.0% increase from Alamos Gold’s previous quarterly dividend of $0.03.

Alamos Gold has increased its dividend payment by an average of 0.2%annually over the last three years. Alamos Gold has a dividend payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Alamos Gold to earn $1.16 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.6%.

Alamos Gold Trading Up 2.6%

AGI traded up $1.15 during mid-day trading on Thursday, hitting $44.89. The stock had a trading volume of 561,608 shares, compared to its average volume of 4,170,107. The stock’s fifty day simple moving average is $40.75 and its 200-day simple moving average is $35.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.61. Alamos Gold has a 1-year low of $22.03 and a 1-year high of $46.66.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The business had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s revenue was up 53.1% compared to the same quarter last year. As a group, research analysts forecast that Alamos Gold will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AGI. Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Scotiabank increased their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Jefferies Financial Group restated a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Finally, TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold has an average rating of “Buy” and an average price target of $45.50.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.