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

Alamos Gold (NYSE:AGI) (TSE:AGI) released its earnings results on Wednesday. The basic materials company reported $0.59 earnings per share (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 business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS.

Alamos Gold Stock Down 0.9%

NYSE:AGI traded down $0.27 during trading hours on Wednesday, hitting $28.52. The company’s stock had a trading volume of 3,786,817 shares, compared to its average volume of 3,812,848. Alamos Gold has a 52-week low of $23.92 and a 52-week high of $55.41. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $11.94 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. The stock has a fifty day moving average of $33.27 and a 200-day moving average of $40.47.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors 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 6.37%.

Wall Street Analysts Forecast Growth

AGI has been the subject of several research reports. Wall Street Zen upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group decreased their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 6th. 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 report on Thursday, July 9th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Alamos Gold presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in Alamos Gold by 11.2% in the fourth quarter. Advisory Services Network LLC now owns 6,685 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 674 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Alamos Gold during the 3rd quarter worth approximately $243,000. XTX Topco Ltd purchased a new stake in shares of Alamos Gold during the 4th quarter worth approximately $237,000. MML Investors Services LLC acquired a new position in shares of Alamos Gold in the 4th quarter valued at $216,000. Finally, NorthRock Partners LLC acquired a new position in shares of Alamos Gold in the 3rd quarter valued at $206,000. 64.33% of the stock is owned by institutional investors and hedge funds.

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.