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

Key Points

• Alamos Gold beat quarterly earnings expectations: The company reported $0.59 in EPS, exceeding the $0.52 consensus estimate by $0.07. Revenue increased 35.6% year over year, while EPS rose from $0.34 in the prior-year period.
• Shares declined 0.9% to $28.52 despite the earnings beat. The stock has traded between $23.92 and $55.41 over the past year and has fallen below its 50-day and 200-day moving averages.
• Alamos Gold maintained its quarterly dividend at $0.04 per share, equivalent to an annualized $0.16 payout and a 0.6% yield. Analysts remain generally positive, with a “Moderate Buy” consensus rating and an average price target of $47.50.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI posted its quarterly earnings results on Wednesday. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate 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%. During the same period in the prior year, the firm posted $0.34 EPS. The firm's revenue was up 35.6% on a year-over-year basis.

Alamos Gold Stock Down 0.9%

Alamos Gold stock traded down $0.27 during mid-day trading on Wednesday, reaching $28.52. 3,786,817 shares of the company were exchanged, compared to its average volume of 4,027,889. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The firm has a market cap of $11.94 billion, a P/E ratio of 11.36, a PEG ratio of 0.38 and a beta of 0.55. The business has a fifty day moving average of $33.27 and a 200 day moving average of $40.47. Alamos Gold has a 12-month low of $23.92 and a 12-month high of $55.41.

Alamos Gold Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AGI. Virtu Financial LLC bought a new stake in Alamos Gold during the fourth quarter valued at about $370,000. Alpine Woods Capital Investors LLC boosted its holdings in shares of Alamos Gold by 285.2% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 26,965 shares of the basic materials company's stock valued at $1,040,000 after buying an additional 19,965 shares in the last quarter. Vident Advisory LLC grew its position 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 boosted its stake in Alamos Gold by 1.8% in the fourth quarter. Coastal Bridge Advisors LLC now owns 16,907 shares of the basic materials company's stock valued at $654,000 after acquiring an additional 300 shares in the last quarter. Finally, Grand Central Investment Group acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $5,650,000. 64.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AGI has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Jefferies Financial Group lowered 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. Finally, Weiss Ratings downgraded Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.