Alamos Gold (NYSE:AGI) Issues Quarterly Earnings Results

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

Alamos Gold Stock Performance

AGI traded down $0.27 during midday trading on Wednesday, hitting $28.52. 3,786,817 shares of the company were exchanged, compared to its average volume of 4,027,889. The company’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $40.47. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. Alamos Gold has a 1-year low of $23.92 and a 1-year high of $55.41.

Alamos Gold Dividend Announcement

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

Institutional Trading of Alamos Gold

Several hedge funds and other institutional investors have recently bought and sold shares of AGI. Smartleaf Asset Management LLC raised its position in Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. State of Wyoming purchased a new stake in Alamos Gold in the 4th quarter worth approximately $71,000. Gen Wealth Partners Inc grew its stake in shares of Alamos Gold by 54.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,533 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 898 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Alamos Gold by 93.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,781 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 2,307 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Alamos Gold during the 4th quarter valued at approximately $170,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on AGI shares. Royal Bank Of Canada cut their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Wall Street Zen upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.