5 Best Gold Stocks Under $50

In this article, we discuss 5 best gold stocks under $50. If you want to read our detailed discussion on the gold industry, head over to 10 Best Gold Stocks Under $50. 

5. Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Holders: 25

Share Price as of July 24: $12.42

Alamos Gold Inc. (NYSE:AGI) is engaged in acquiring, exploring, developing, and mining precious metals in Canada and Mexico. The company’s main focus is on exploring for gold and silver deposits. Alamos Gold Inc. (NYSE:AGI) is headquartered in Toronto, Canada. It is one of the best gold stocks to watch. On April 26, Alamos Gold Inc. (NYSE:AGI) reported a Q1 non-GAAP EPS of $0.12 and a revenue of $251.5 million, outperforming Wall Street estimates by $0.03 and $19.95 million, respectively. The company achieved a gold production of 128,400 ounces, surpassing the projected quarterly target and indicating a 30% increase compared to the first quarter of 2022. Additionally, Alamos Gold Inc. (NYSE:AGI) sold 132,668 ounces of gold at an average realized price of $1,896 per ounce.

According to Insider Monkey’s first quarter database, 25 hedge funds were bullish on Alamos Gold Inc. (NYSE:AGI), compared to 28 funds in the earlier quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the leading stakeholder of the company, with 10.6 million shares worth nearly $130 million. 

Palm Valley Capital made the following comment about Alamos Gold Inc. (NYSE:AGI) in its Q4 2022 investor letter:

“For the full calendar year, the Fund’s top performers were Coterra Energy (ticker: CTRA), Amdocs, and Alamos Gold Inc. (NYSE:AGI). Coterra’s stock rose sharply along with energy prices at the beginning of 2022. Amdocs delivered record operating results during the year and demonstrated the strength of its market position serving the world’s leading communication service providers. All the Fund’s precious metals holdings, led by Alamos, contributed positively to performance in 2022, with a 1% collective contribution from gold and silver equities. We think this was a good outcome relative to gold and silver prices that ended the year essentially flat, after a summer swoon. Additionally, precious metals miners were down, on average, in 2022.”