Alamos Gold (NYSE:AGI) Stock Price Up 5.7% on Earnings Beat

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price was up 5.7% on Thursday following a stronger than expected earnings report. The stock traded as high as $23.80 and last traded at $23.98. Approximately 730,987 shares traded hands 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $375.80 million for the quarter, compared to the consensus estimate of $388.06 million. Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%.

Analysts Set New Price Targets

AGI has been the topic of several recent research reports. National Bank Financial raised 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 price objective on Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $26.06.

Institutional Trading of Alamos Gold

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position 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 worth $136,011,000 after purchasing an additional 5,516,186 shares during the period. Norges Bank bought a new stake in Alamos Gold in the 4th quarter valued at $100,694,000. CIBC Asset Management Inc raised its position in shares of Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after buying an additional 2,867,027 shares during the last quarter. FMR LLC lifted its position in shares of Alamos Gold by 50.8% in the 3rd quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after acquiring an additional 2,148,153 shares during the period. Finally, Addenda Capital Inc. bought a new position in Alamos Gold in the fourth quarter worth $34,869,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Up 5.6 %

The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average price is $20.07 and its 200 day moving average price is $19.62. The company has a market capitalization of $10.07 billion, a P/E ratio of 39.87, a P/E/G ratio of 0.39 and a beta of 1.16.

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.