The Vanguard Group, Inc. recently announced the acquisition of new stake in Alamos Gold Inc. (NYSE:AGI). The institutional investor has increased its shareholding in the Basic Materials company by 0.88% to 10.2 million shares with purchase of 89013.0 shares. This fresh investment now brings its stake to 2.57% valued currently at $126.23 million. In addition, RBC Global Asset Management, Inc. raised its holdings by 0.99 million to 9.03 million shares.
With over 3.99 million Alamos Gold Inc. (AGI) shares trading Tuesday and a closing price of $14.57 on the day, the dollar volume was approximately $58.09 million. The shares have shown a positive half year performance of 20.31% and its price on 11/28/23 gained nearly 3.63%. Currently, there are 396.37M common shares owned by the public and among those 394.54M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for AGI have a consensus price objective of $14.58. The analysts have set the share’s price value over the next 12 months at a high of $18.04 and a low of $12.00. But an upside of 19.24% will see the stock hit the forecast high price target while median target price for the stock is $14.48.
The top 3 mutual fund holders in Alamos Gold Inc. are VanEck Gold Miners ETF, VanEck Junior Gold Miners ETF, and BlackRock Global Funds – World Go. VanEck Gold Miners ETF owns 21.41 million shares of the company’s stock, all valued at over $265.0 million. The company bought an additional 90712.0 shares recently to bring their total holdings to about 5.41% of the shares outstanding. VanEck Junior Gold Miners ETF bought 25833.0 shares to see its total holdings expand to 19.43 million shares valued at over $240.6 million and representing 4.91% of the shares outstanding. BlackRock Global Funds – World Go sold -0.51 million shares to bring its total holdings to over 14.3 million shares at a value of $177.09 million. BlackRock Global Funds – World Go now owns shares totaling to 3.61% of the shares outstanding.
Shares of Alamos Gold Inc. (NYSE: AGI) opened at $14.18, up $0.12 from a prior closing price of $14.06. However, the script later moved the day high at 14.58, up 3.63%. The company’s stock has a 5-day price change of 13.03% and 12.86% over the past three months. AGI shares are trading 44.11% year to date (YTD), with the 12-month market performance up to 51.61% higher. It has a 12-month low price of $9.20 and touched a high of $14.23 over the same period. AGI has an average intraday trading volume of 2.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.70%, 17.04%, and 20.16% respectively.
Institutional ownership of Alamos Gold Inc. (NYSE: AGI) shares accounts for 58.49% of the company’s 396.37M shares outstanding. Mutual fund holders own 2.80%, while other institutional holders and individual stakeholders account for 56.04% and — respectively.
It has a market capitalization of $5.78B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 28.43, while the earnings-per-share (ttm) stands at $0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.09% over the week and 3.19% over the month.
Analysts forecast that Alamos Gold Inc. (AGI) will achieve an EPS of $0.11 for the current quarter, $0.13 for the next quarter and $0.56 for 2024. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 91.43%, and 4.13% over the next financial year. EPS should shrink at an annualized rate of -13.89% over the next five years, compared to 1.67% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Alamos Gold Inc. (AGI) as a “Strong Buy” at a consensus score of 1.73. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
