Alamos Gold Inc (NYSE:AGI) (TSE:AGI) declared a quarterly dividend on Thursday, August 29th, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 0.01 per share by the basic materials company on Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, September 13th.
Alamos Gold has decreased its dividend by an average of 20.6% per year over the last three years. Alamos Gold has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alamos Gold to earn $0.22 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 18.2%.
AGI traded up $0.01 during trading on Wednesday, reaching $6.48. 131,565 shares of the stock traded hands, compared to its average volume of 2,703,914. The stock’s 50-day moving average is $7.02 and its 200 day moving average is $5.64. Alamos Gold has a 12 month low of $2.90 and a 12 month high of $7.78. The stock has a market capitalization of $2.55 billion, a PE ratio of 129.60, a P/E/G ratio of 0.55 and a beta of 0.26.
A number of equities analysts have issued reports on AGI shares. CIBC restated a “buy” rating and set a $9.00 price target on shares of Alamos Gold in a report on Friday, June 21st. Canaccord Genuity raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. ValuEngine upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. TheStreet upgraded Alamos Gold from a “d+” rating to a “c-” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research upgraded Alamos Gold from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Alamos Gold has a consensus rating of “Buy” and a consensus price target of $6.62.
About Alamos Gold
Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada.
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