Alamos Gold (NYSE:AGI) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Alamos Gold (NYSE:AGI) (TSE:AGI) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07, Zacks reports. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year.

Alamos Gold Price Performance

AGI stock traded down $0.38 during trading on Thursday, reaching $28.20. 3,522,490 shares of the company were exchanged, compared to its average volume of 4,020,856. The company has a 50-day moving average of $33.27 and a two-hundred day moving average of $40.47. Alamos Gold has a twelve month low of $23.92 and a twelve month high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 0.37 and a beta of 0.55.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Alamos Gold’s payout ratio is 6.37%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AGI. Bank of America cut their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group reduced their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Finally, Royal Bank Of Canada dropped their target price on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Alamos Gold during the fourth quarter worth $370,000. Alpine Woods Capital Investors LLC boosted its holdings in Alamos Gold by 285.2% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 26,965 shares of the basic materials company’s stock worth $1,040,000 after acquiring an additional 19,965 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Alamos Gold by 255.3% in the 4th 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 last quarter. Coastal Bridge Advisors LLC raised its stake in shares of 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 during the period. Finally, Grand Central Investment Group purchased a new stake in shares of Alamos Gold during the 4th quarter worth approximately $5,650,000. 64.33% of the stock is owned by institutional investors.

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.