Desjardins Brokers Lower Earnings Estimates for Alamos Gold (AGI)
Alamos Gold (NYSE:AGI) (TSE:AGI) – Equities researchers at Desjardins reduced their Q1 2019 earnings per share estimates for Alamos Gold in a note issued to investors on Monday, April 16th. Desjardins analyst J. Wolfson now expects that the basic materials company will earn $0.05 per share for the quarter, down from their previous forecast of $0.07. Desjardins also issued estimates for Alamos Gold’s Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.05 EPS and Q4 2019 earnings at $0.04 EPS.
Several other analysts also recently commented on AGI. Scotiabank dropped their price objective on shares of Alamos Gold from $11.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, December 18th. Zacks Investment Research downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. ValuEngine raised shares of Alamos Gold from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Royal Bank of Canada set a $9.00 price objective on shares of Alamos Gold and gave the company a “hold” rating in a report on Monday, January 15th. Finally, Credit Suisse Group raised shares of Alamos Gold from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $6.16 to $8.00 in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Alamos Gold presently has an average rating of “Hold” and an average price target of $9.04.
Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). Alamos Gold had a net margin of 4.90% and a return on equity of 1.70%. The company had revenue of $161.70 million for the quarter, compared to analyst estimates of $159.65 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in AGI. Engineers Gate Manager LP purchased a new stake in Alamos Gold during the fourth quarter worth $162,000. Gamco Investors INC. ET AL boosted its holdings in Alamos Gold by 22.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 153,837 shares of the basic materials company’s stock worth $1,001,000 after buying an additional 28,239 shares in the last quarter. Aperio Group LLC purchased a new stake in Alamos Gold during the fourth quarter worth $196,000. FNY Partners Fund LP purchased a new stake in Alamos Gold during the fourth quarter worth $200,000. Finally, Bank of New York Mellon Corp boosted its holdings in Alamos Gold by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 5,299,362 shares of the basic materials company’s stock worth $34,499,000 after buying an additional 31,763 shares in the last quarter. 61.66% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be issued a $0.01 dividend. This represents a dividend yield of 0.38%. The ex-dividend date is Friday, April 13th. Alamos Gold’s dividend payout ratio (DPR) is currently 16.67%.
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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 holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.
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