Alamos Gold Inc. (AGI) to Post Q3 2016 Earnings of $0.03 Per Share, National Bank Financial Forecasts
Alamos Gold Inc. (NYSE:AGI) – Equities researchers at National Bank Financial issued their Q3 2016 earnings estimates for Alamos Gold in a research note issued on Wednesday. National Bank Financial analyst A. Melnyk expects that the firm will post earnings per share of $0.03 for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Alamos Gold’s FY2017 earnings at $0.18 EPS.
Several other equities research analysts have also recently issued reports on AGI. Raymond James Financial Inc. upgraded Alamos Gold from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Credit Suisse Group AG raised Alamos Gold from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $7.50 to $11.00 in a research report on Thursday, June 30th. TheStreet raised Alamos Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Bank of America Corp. reaffirmed a “buy” rating on shares of Alamos Gold in a research report on Tuesday, July 12th. Finally, Desjardins lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.69.
Alamos Gold (NYSE:AGI) traded down 3.12% on Friday, hitting $7.46. The stock had a trading volume of 747,212 shares. The company’s 50-day moving average is $7.90 and its 200-day moving average is $7.68. Alamos Gold has a one year low of $2.27 and a one year high of $10.41. The stock’s market cap is $1.99 billion.
Alamos Gold (NYSE:AGI) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The business earned $120.10 million during the quarter, compared to analysts’ expectations of $129.13 million. Alamos Gold had a negative return on equity of 3.73% and a negative net margin of 21.64%. The business’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS.
Several hedge funds have recently made changes to their positions in AGI. Sentry Investments Corp. acquired a new stake in shares of Alamos Gold during the first quarter worth about $27,893,000. Royal Bank of Canada increased its position in Alamos Gold by 8,946.8% in the first quarter. Royal Bank of Canada now owns 3,179,411 shares of the company’s stock worth $16,820,000 after buying an additional 3,144,267 shares during the period. Prudential PLC increased its position in Alamos Gold by 25.5% in the second quarter. Prudential PLC now owns 9,239,972 shares of the company’s stock worth $79,464,000 after buying an additional 1,875,468 shares during the period. Investec Asset Management LTD purchased a new position in Alamos Gold during the first quarter worth approximately $9,608,000. Finally, Commonwealth Bank of Australia purchased a new position in Alamos Gold during the second quarter worth approximately $15,007,000. 60.54% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a semiannual dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be given a dividend of $0.01 per share. This represents a dividend yield of 0.24%. The ex-dividend date is Wednesday, October 12th. Alamos Gold’s payout ratio is -5.41%.
About Alamos Gold
Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.
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