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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. 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 the consensus estimate of $0.19 by ($0.05). Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. During the same period in the previous year, the company earned $0.13 earnings per share. Alamos Gold’s revenue was up 20.0% on a year-over-year basis.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is 16.13%.

Wall Street Analyst Weigh In

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

Institutional Trading of Alamos Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGI. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold during the 1st quarter worth about $41,000. SBI Securities Co. Ltd. raised its holdings in Alamos Gold by 67.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 660 shares during the period. Blue Trust Inc. boosted its position in Alamos Gold by 155.7% during the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Alamos Gold by 51.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 856 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Trading Down 4.0 %

The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 0.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The company has a 50 day moving average price of $26.24 and a two-hundred day moving average price of $22.11.

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.