Alamos Gold (NYSE:AGI) Announces Quarterly Earnings Results

Alamos Gold (NYSE:AGI) (TSE:AGI) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03), reports. The firm had revenue of $360.90 million for the quarter. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%.

Alamos Gold Price Performance

AGI traded down $0.63 during trading hours on Friday, hitting $19.11. 861,406 shares of the stock were exchanged, compared to its average volume of 2,344,566. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The stock has a 50-day simple moving average of $19.97 and a 200-day simple moving average of $17.84. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio is currently 20.00%.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently bought and sold shares of AGI. CANADA LIFE ASSURANCE Co grew its holdings in shares of Alamos Gold by 131.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock valued at $1,434,000 after purchasing an additional 55,352 shares during the last quarter. National Bank of Canada FI grew its position in shares of Alamos Gold by 3.4% during the first quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock worth $21,824,000 after acquiring an additional 45,412 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alamos Gold by 71.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after acquiring an additional 2,756,759 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Alamos Gold by 66.2% in the 1st quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock worth $2,829,000 after acquiring an additional 76,379 shares during the period. Finally, Murphy Pohlad Asset Management LLC lifted its position in Alamos Gold by 81.9% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 135,870 shares of the basic materials company’s stock valued at $2,130,000 after purchasing an additional 61,155 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AGI. Royal Bank of Canada raised their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Jefferies Financial Group increased their target price on Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Scotiabank lifted their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

About Alamos Gold

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.