Alamos Gold (NYSE:AGI) Issues Quarterly Earnings Results

Alamos Gold (NYSE:AGI) (TSE:AGI) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05, Zacks reports. Alamos Gold had a return on equity of 15.46% and a net margin of 48.97%.The business had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue was up 53.1% on a year-over-year basis.

Alamos Gold Price Performance

Alamos Gold stock opened at $45.86 on Friday. The stock has a market capitalization of $19.26 billion, a P/E ratio of 21.84, a P/E/G ratio of 0.41 and a beta of 0.61. The company’s fifty day moving average price is $40.90 and its 200 day moving average price is $35.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. Alamos Gold has a 1 year low of $22.03 and a 1 year 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. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. Alamos Gold’s payout ratio is 7.81%.

Institutional Trading of Alamos Gold

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake 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 in the last quarter. Empowered Funds LLC purchased a new stake in Alamos Gold during the 1st quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alamos Gold by 129.2% during the 1st 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 buying an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Alamos Gold by 375.1% during the second 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 during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after acquiring an additional 26,045 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AGI shares. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a research note on Sunday, December 7th. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Desjardins began coverage on Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.