Alamos Gold (NYSE:AGI) Posts Earnings Results

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

Alamos Gold Trading Down 3.2 %

AGI stock traded down $0.63 during trading on Friday, hitting $19.11. The company had a trading volume of 861,406 shares, compared to its average volume of 2,344,566. The company has a fifty day moving average price of $19.97 and a two-hundred day moving average price of $17.84. Alamos Gold has a fifty-two week low of $11.24 and a fifty-two week high of $21.45. The company has a market cap of $8.03 billion, a P/E ratio of 39.52, a P/E/G ratio of 0.88 and a beta of 1.19.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.025 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.52%. Alamos Gold’s payout ratio is presently 20.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AGI. Swiss National Bank raised its stake in shares of Alamos Gold by 4.9% in the third quarter. Swiss National Bank now owns 825,036 shares of the basic materials company’s stock valued at $16,467,000 after acquiring an additional 38,600 shares during the last quarter. Chesapeake Capital Corp IL increased its holdings in Alamos Gold by 28.7% during the 3rd quarter. Chesapeake Capital Corp IL now owns 20,395 shares of the basic materials company’s stock valued at $407,000 after purchasing an additional 4,545 shares in the last quarter. Natixis Advisors LLC increased its holdings in Alamos Gold by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 27,681 shares of the basic materials company’s stock valued at $552,000 after purchasing an additional 531 shares in the last quarter. CIBC Asset Management Inc raised its position in Alamos Gold by 79.3% in the 3rd quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company’s stock valued at $97,336,000 after purchasing an additional 2,149,915 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Alamos Gold in the third quarter worth $147,000. 64.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AGI shares. Scotiabank increased their price target on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group upped their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. 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 report on Tuesday, September 10th. Finally, National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.