Alamos Gold (NYSE:AGI) Trading Up 5.7% on Better-Than-Expected Earnings

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) were up 5.7% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $23.80 and last traded at $23.98. Approximately 730,987 shares traded hands during mid-day 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 for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $388.06 million. Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Alamos Gold

A number of institutional investors have recently added to or reduced their stakes in AGI. Dimensional Fund Advisors LP grew 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 valued at $136,011,000 after acquiring an additional 5,516,186 shares during the period. Norges Bank purchased a new stake in Alamos Gold during the fourth quarter valued at about $100,694,000. CIBC Asset Management Inc grew its position in 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 acquiring an additional 2,867,027 shares during the period. FMR LLC grew its position in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after acquiring an additional 2,148,153 shares during the period. Finally, Addenda Capital Inc. purchased a new stake in Alamos Gold during the fourth quarter valued at about $34,869,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

The stock has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $19.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The stock has a market cap of $9.80 billion, a PE ratio of 38.86, a P/E/G ratio of 0.39 and a beta of 1.16.

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.