Alamos Gold (NYSE:AGI) Announces Earnings Results

Key Points

• Alamos Gold reported earnings of $0.34 EPS for the quarter, surpassing analysts' expectations of $0.33, with a 31.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.025 per share, representing a 0.39% dividend yield and a payout ratio of 16.13%.
• Alamos Gold's stock performance saw shares decrease by $0.24 to hit $25.44, with an average target price from analysts of $30.38 and a general rating of "Buy."

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI issued its quarterly earnings data on Wednesday. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01, Zacks reports. Alamos Gold had a net margin of 22.99% and a return on equity of 10.81%. The company had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. During the same period last year, the firm posted $0.24 EPS. Alamos Gold's revenue for the quarter was up 31.7% on a year-over-year basis.

Alamos Gold Price Performance

NYSE:AGI traded up $0.52 during mid-day trading on Friday, hitting $24.82. 4,965,624 shares of the company's stock traded hands, compared to its average volume of 3,480,920. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. The firm's 50 day simple moving average is $26.33 and its 200 day simple moving average is $25.27. Alamos Gold has a 1 year low of $15.74 and a 1 year high of $31.00. The company has a market cap of $10.43 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 0.55 and a beta of 0.51.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.025 dividend. The ex-dividend date was Thursday, June 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.4%. Alamos Gold's dividend payout ratio (DPR) is 12.05%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in Alamos Gold in the first quarter valued at approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $27,111,000 after purchasing an additional 571,536 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in 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 valued at $64,032,000 after buying an additional 1,227,695 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AGI has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America reduced their target price on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $30.38.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.