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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shot 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. 730,987 shares traded hands during trading, a decline of 66% from the average session 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 the consensus estimate of $0.24 by $0.01. Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The company had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $388.06 million.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AGI. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada increased their price objective 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, Alamos Gold presently has a consensus rating of “Buy” and a consensus price target of $26.06.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in Alamos Gold in the fourth quarter valued at $711,000. Public Employees Retirement System of Ohio acquired a new stake in Alamos Gold in the 4th quarter valued at about $4,260,000. Wexford Capital LP purchased a new position in Alamos Gold during the 4th quarter valued at about $859,000. Two Sigma Advisers LP raised its position in Alamos Gold by 5.3% during the fourth quarter. Two Sigma Advisers LP now owns 767,154 shares of the basic materials company’s stock worth $14,146,000 after acquiring an additional 38,280 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Alamos Gold by 106.1% in the fourth quarter. Two Sigma Investments LP now owns 1,288,696 shares of the basic materials company’s stock valued at $23,764,000 after purchasing an additional 663,381 shares during the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

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 firm has a market capitalization of $10.07 billion, a PE ratio of 39.87, a PEG ratio of 0.39 and a beta of 1.16. The stock’s 50 day moving average price is $20.07 and its two-hundred day moving average price is $19.62.

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.