Alamos Gold (NYSE:AGI) Shares Gap Down After Earnings Miss

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $28.52, but opened at $25.32. Alamos Gold shares last traded at $23.98, with a volume of 1,425,927 shares changing hands.

The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The business had revenue of $333.00 million for the quarter, compared to the consensus estimate of $324.98 million. During the same period in the previous year, the firm earned $0.13 EPS. The company’s revenue was up 20.0% on a year-over-year basis.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.39%. Alamos Gold’s payout ratio is currently 16.13%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AGI. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their price objective on Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, Bank of America cut their target price on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus price target of $30.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AGI. Dimensional Fund Advisors LP boosted its stake in Alamos Gold by 296.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after buying an additional 5,516,186 shares during the last quarter. Norges Bank bought a new position in shares of Alamos Gold during the 4th quarter valued at approximately $100,694,000. CIBC Asset Management Inc increased its position in Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after purchasing an additional 2,867,027 shares during the last quarter. Addenda Capital Inc. purchased a new stake in Alamos Gold during the fourth quarter valued at $34,869,000. Finally, Raymond James Financial Inc. bought a new position in Alamos Gold during the fourth quarter valued at $28,950,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Down 9.7 %

The business’s 50 day simple moving average is $26.21 and its 200 day simple moving average is $22.08. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $10.83 billion, a PE ratio of 37.33, a PEG ratio of 0.40 and a beta of 1.02.

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.