Alamos Gold (NYSE:AGI) Shares Up 5.7% After Strong Earnings

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price was up 5.7% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $23.80 and last traded at $23.98. Approximately 730,987 shares were traded during trading, a decline of 66% from the average daily volume of 2,165,126 shares. The stock had previously closed at $22.68.

The basic materials company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.38%. The company had revenue of $375.80 million for the quarter, compared to the consensus estimate of $388.06 million.

Wall Street Analyst Weigh In

AGI has been the subject of a number of research analyst reports. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and an average price target of $26.06.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently made changes to their positions in the business. Natixis Advisors LLC increased its holdings in shares of Alamos Gold by 2.0% in the third quarter. Natixis Advisors LLC now owns 27,681 shares of the basic materials company’s stock valued at $552,000 after buying an additional 531 shares in the last quarter. Baird Financial Group Inc. increased its stake in Alamos Gold by 0.3% in the 4th quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company’s stock worth $3,349,000 after purchasing an additional 614 shares in the last quarter. Veracity Capital LLC raised its holdings in Alamos Gold by 3.2% during the 4th quarter. Veracity Capital LLC now owns 22,569 shares of the basic materials company’s stock worth $416,000 after buying an additional 694 shares during the period. Captrust Financial Advisors raised its holdings in Alamos Gold by 4.0% during the 3rd quarter. Captrust Financial Advisors now owns 18,798 shares of the basic materials company’s stock worth $375,000 after buying an additional 728 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Alamos Gold by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 72,751 shares of the basic materials company’s stock valued at $1,342,000 after buying an additional 854 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Performance

The firm’s fifty day simple moving average is $20.15 and its 200 day simple moving average is $19.65. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 0.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97.

Alamos Gold Company Profile

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.