Alamos Gold (NYSE:AGI) Announces Earnings Results
by Kim Johansen · The Markets DailyAlamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) released its quarterly earnings data on Wednesday. The basic materials company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02), Zacks reports. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.
Alamos Gold Stock Up 1.0%
Shares of Alamos Gold stock traded up $0.42 during midday trading on Wednesday, hitting $43.73. The company had a trading volume of 3,229,917 shares, compared to its average volume of 4,289,718. Alamos Gold has a 52-week low of $22.03 and a 52-week high of $46.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The stock has a market capitalization of $18.36 billion, a P/E ratio of 34.17, a P/E/G ratio of 0.43 and a beta of 0.61. The company has a 50 day moving average of $40.63 and a 200 day moving average of $35.06.
Alamos Gold Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, December 4th. Alamos Gold’s payout ratio is currently 7.81%.
Analyst Ratings Changes
A number of brokerages have issued reports on AGI. Scotiabank boosted their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Desjardins initiated coverage on shares of Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Finally, Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Alamos Gold presently has an average rating of “Buy” and an average target price of $45.50.
Check Out Our Latest Report on AGI
Institutional Investors Weigh In On Alamos Gold
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of Alamos Gold by 137.3% during the third quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock valued at $91,492,000 after acquiring an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares in the last quarter. AQR Capital Management LLC raised its holdings in Alamos Gold by 7,791.0% in the fourth quarter. AQR Capital Management LLC now owns 825,952 shares of the basic materials company’s stock worth $31,894,000 after buying an additional 815,485 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Alamos Gold by 375.1% in the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock worth $26,042,000 after buying an additional 774,111 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Alamos Gold by 41.6% during the third quarter. Legal & General Group Plc now owns 2,594,846 shares of the basic materials company’s stock valued at $90,467,000 after buying an additional 762,115 shares during the last quarter. 64.33% of the stock is owned by 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.
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