Alamos Gold Inc. (AGI) Posts Quarterly Earnings Results, Meets Expectations
Alamos Gold Inc. (NYSE:AGI) issued its quarterly earnings data on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Alamos Gold had a negative net margin of 21.64% and a negative return on equity of 3.73%. The company earned $125.60 million during the quarter, compared to the consensus estimate of $134.57 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year.
Shares of Alamos Gold (NYSE:AGI) opened at 7.52 on Thursday. The stock’s 50 day moving average is $7.93 and its 200-day moving average is $7.99. The firm’s market cap is $2.01 billion. Alamos Gold has a 1-year low of $2.27 and a 1-year high of $10.41.
The company also recently declared a semiannual dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, October 14th were paid a $0.01 dividend. This represents a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, October 12th. Alamos Gold’s dividend payout ratio is currently -5.41%.
AGI has been the subject of several recent research reports. Desjardins cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. National Bank Financial cut shares of Alamos Gold from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $12.00 to $13.00 in a report on Wednesday, July 13th. Zacks Investment Research upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, August 2nd. Canaccord Genuity restated a “hold” rating and set a $12.50 target price (down previously from $14.00) on shares of Alamos Gold in a report on Saturday, August 13th. Finally, TD Securities restated a “hold” rating and set a $11.50 target price (up previously from $10.00) on shares of Alamos Gold in a report on Saturday, August 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 company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.31.
Hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. bought a new stake in Alamos Gold during the second quarter valued at $108,000. Societe Generale bought a new stake in Alamos Gold during the second quarter valued at $112,000. Probity Advisors Inc. bought a new stake in Alamos Gold during the third quarter valued at $110,000. Loeb Partners Corp bought a new stake in Alamos Gold during the third quarter valued at $115,000. Finally, Quantbot Technologies LP bought a new stake in Alamos Gold during the third quarter valued at $123,000. Institutional investors own 60.24% of the company’s stock.
Alamos Gold Company Profile
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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