Alamos Gold (NYSE:AGI) Announces Earnings Results, Beats Expectations By $0.05 EPS

Alamos Gold (NYSE:AGI) (TSE:AGI) announced its earnings results on Wednesday. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05, Zacks reports. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The business had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 53.1% on a year-over-year basis.

Alamos Gold Stock Up 3.9%

Shares of NYSE:AGI traded up $1.70 during trading on Thursday, hitting $45.44. The company’s stock had a trading volume of 1,336,190 shares, compared to its average volume of 4,194,730. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The stock’s 50-day moving average price is $40.75 and its two-hundred day moving average price is $35.12. The company has a market capitalization of $19.08 billion, a PE ratio of 35.59, a PEG ratio of 0.41 and a beta of 0.61. Alamos Gold has a fifty-two week low of $22.03 and a fifty-two week high of $46.66.

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold’s dividend payout ratio is presently 7.81%.

Hedge Funds Weigh In On Alamos Gold

Several large investors have recently added to or reduced their stakes in AGI. Goldman Sachs Group Inc. raised its position in shares of Alamos Gold by 105.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after purchasing an additional 1,227,695 shares during the period. Empowered Funds LLC acquired a new position in shares of Alamos Gold in the first quarter worth about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock worth $27,111,000 after acquiring an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Alamos Gold by 375.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after acquiring an additional 774,111 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Alamos Gold by 6.9% in the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after purchasing an additional 26,045 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Securities restated a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $45.50.

About Alamos Gold

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.