Alamos Gold (NYSE:AGI) Releases Quarterly Earnings Results, Meets Expectations

Alamos Gold (NYSE:AGI) (TSE:AGI) announced its quarterly earnings results on Thursday. The basic materials company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13, Yahoo Finance reports. Alamos Gold had a return on equity of 7.43% and a net margin of 19.41%. The firm had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis.

Alamos Gold Stock Performance

AGI traded up $0.32 during midday trading on Friday, hitting $15.30. The stock had a trading volume of 2,257,850 shares, compared to its average volume of 2,951,579. The company has a market cap of $6.09 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 3.73 and a beta of 1.15. The business has a fifty day moving average of $13.79 and a 200 day moving average of $13.25. Alamos Gold has a 1 year low of $10.78 and a 1 year high of $16.01.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.65%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s dividend payout ratio is currently 19.23%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AGI. Jefferies Financial Group upped their price target on Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Royal Bank of Canada upped their price objective on shares of Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $21.75 to $27.25 in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday, April 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $18.15.

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.