Alamos Gold Inc. (AGI) Posts Earnings Results, Beats Expectations By $0.02 EPS
Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) announced its quarterly earnings results on Thursday. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02, MarketWatch Earnings reports. The firm had revenue of $131.30 million for the quarter, compared to the consensus estimate of $125.71 million. Alamos Gold had a negative net margin of 5.51% and a negative return on equity of 0.32%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS.
Alamos Gold (NYSE:AGI) traded down 1.56% during trading on Friday, hitting $7.57. 1,534,798 shares of the company were exchanged. Alamos Gold has a 1-year low of $5.95 and a 1-year high of $9.72. The firm’s 50 day moving average price is $6.98 and its 200-day moving average price is $7.40. The stock’s market capitalization is $2.26 billion.
Large investors have recently modified their holdings of the stock. Comerica Bank raised its stake in shares of Alamos Gold by 14.5% in the fourth quarter. Comerica Bank now owns 15,031 shares of the basic materials company’s stock worth $123,000 after buying an additional 1,903 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alamos Gold by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 505,486 shares of the basic materials company’s stock worth $3,458,000 after buying an additional 8,285 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Alamos Gold by 115.5% in the fourth quarter. Renaissance Technologies LLC now owns 652,129 shares of the basic materials company’s stock worth $4,483,000 after buying an additional 349,569 shares in the last quarter. Norges Bank purchased a new stake in shares of Alamos Gold during the fourth quarter worth approximately $12,125,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Alamos Gold during the fourth quarter worth approximately $617,000. Hedge funds and other institutional investors own 67.11% of the company’s stock.
A number of analysts have recently issued reports on AGI shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $9.00 price target on shares of Alamos Gold in a report on Wednesday. Raymond James Financial, Inc. reaffirmed an “ourperform” rating and set a $12.00 price target on shares of Alamos Gold in a report on Thursday, June 15th. ValuEngine downgraded shares of Alamos Gold from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Alamos Gold in a report on Sunday, July 23rd. Finally, Zacks Investment Research downgraded shares of Alamos Gold from a “buy” rating to a “sell” rating in a report on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.88.
About Alamos Gold
Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.
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