Alamos Gold (NYSE:AGI) Announces Earnings Results, Beats Expectations By $0.07 EPS

Alamos Gold (NYSE:AGI) (TSE:AGI) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07, Zacks reports. Alamos Gold had a net margin of 52.64% and a return on equity of 19.77%. The firm had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. During the same quarter last year, the firm posted $0.34 earnings per share. Alamos Gold’s revenue for the quarter was up 35.6% compared to the same quarter last year.

Alamos Gold Stock Performance

Shares of AGI traded down $0.47 during midday trading on Friday, hitting $27.93. 2,842,962 shares of the stock traded hands, compared to its average volume of 4,053,219. The firm has a market capitalization of $11.69 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. The business’s 50 day moving average price is $33.05 and its two-hundred day moving average price is $40.37. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.6%. Alamos Gold’s dividend payout ratio (DPR) is currently 6.37%.

Analyst Ratings Changes

A number of research analysts have commented on AGI shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Royal Bank Of Canada decreased their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Bank of America decreased their target price on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Alamos Gold during the fourth quarter valued at about $370,000. Alpine Woods Capital Investors LLC lifted its holdings in shares of Alamos Gold by 285.2% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 26,965 shares of the basic materials company’s stock valued at $1,040,000 after purchasing an additional 19,965 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Alamos Gold by 255.3% in the fourth quarter. Vident Advisory LLC now owns 62,619 shares of the basic materials company’s stock worth $2,416,000 after buying an additional 44,996 shares during the period. Coastal Bridge Advisors LLC grew its position in Alamos Gold by 1.8% during the 4th quarter. Coastal Bridge Advisors LLC now owns 16,907 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 300 shares in the last quarter. Finally, Grand Central Investment Group acquired a new stake in Alamos Gold during the 4th quarter worth about $5,650,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.