Alamos Gold (NYSE:AGI) Announces Earnings Results, Hits Estimates

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI announced its earnings results on Wednesday. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54, Zacks reports. The business had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.61% and a net margin of 51.24%.The business's quarterly revenue was up 79.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS.

Alamos Gold Stock Performance

NYSE:AGI opened at $39.42 on Friday. The stock has a market capitalization of $16.55 billion, a P/E ratio of 15.70, a PEG ratio of 0.55 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. Alamos Gold has a fifty-two week low of $23.75 and a fifty-two week high of $55.41. The company has a 50 day moving average price of $46.45 and a 200 day moving average price of $40.67.

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a $0.04 dividend. This is a positive change from Alamos Gold's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold's payout ratio is presently 6.37%.

Analysts Set New Price Targets

AGI has been the subject of several research reports. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of Alamos Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 1st. Scotiabank boosted their price target on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 6th. Finally, Weiss Ratings cut shares of Alamos Gold from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $50.67.

Institutional Investors Weigh In On Alamos Gold

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock worth $28,000 after acquiring an additional 222 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Alamos Gold by 2.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company's stock worth $454,000 after purchasing an additional 229 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Alamos Gold by 3.2% during the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company's stock worth $340,000 after purchasing an additional 300 shares during the last quarter. Coastal Bridge Advisors LLC boosted its holdings in shares of Alamos Gold by 1.8% during the fourth 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Alamos Gold by 4.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 9,232 shares of the basic materials company's stock valued at $322,000 after purchasing an additional 400 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.