Alamos Gold Inc. (AGI) to Post Q3 2016 Earnings of $0.03 Per Share, National Bank Financial Forecasts
Alamos Gold Inc. (NYSE:AGI) – National Bank Financial issued their Q3 2016 earnings per share estimates for Alamos Gold in a research note issued on Wednesday. National Bank Financial analyst A. Melnyk expects that the brokerage will post earnings per share of $0.03 for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Alamos Gold’s FY2017 earnings at $0.18 EPS.
Alamos Gold (NYSE:AGI) last issued its earnings results on Wednesday, August 10th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company earned $120.10 million during the quarter, compared to analysts’ expectations of $129.13 million. Alamos Gold had a negative net margin of 21.64% and a negative return on equity of 3.73%. The business’s revenue for the quarter was up 68.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) EPS.
Several other equities analysts have also weighed in on AGI. Raymond James Financial Inc. upgraded shares of Alamos Gold from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Desjardins lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. TD Securities restated a “hold” rating and set a $11.50 price target (up previously from $10.00) on shares of Alamos Gold in a research report on Saturday, August 13th. Zacks Investment Research lowered shares of Alamos Gold from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Finally, Canaccord Genuity restated a “hold” rating and set a $12.50 price target (down previously from $14.00) on shares of Alamos Gold in a research report on Saturday, August 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.69.
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Shares of Alamos Gold (NYSE:AGI) traded down 3.12% during trading on Friday, hitting $7.46. 747,212 shares of the stock traded hands. The stock has a 50-day moving average of $7.90 and a 200 day moving average of $7.68. The company’s market cap is $1.99 billion. Alamos Gold has a 1-year low of $2.27 and a 1-year high of $10.41.
The business also recently announced a semiannual dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be paid a $0.01 dividend. This represents a yield of 0.24%. The ex-dividend date is Wednesday, October 12th. Alamos Gold’s dividend payout ratio is currently -5.41%.
A number of large investors have recently made changes to their positions in AGI. Sentry Investments Corp. bought a new stake in shares of Alamos Gold during the first quarter worth $27,893,000. Royal Bank of Canada increased its stake in shares of Alamos Gold by 8,946.8% in the first quarter. Royal Bank of Canada now owns 3,179,411 shares of the company’s stock worth $16,820,000 after buying an additional 3,144,267 shares in the last quarter. Prudential PLC increased its stake in shares of Alamos Gold by 25.5% in the second quarter. Prudential PLC now owns 9,239,972 shares of the company’s stock worth $79,464,000 after buying an additional 1,875,468 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of Alamos Gold during the first quarter worth $9,608,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of Alamos Gold during the second quarter worth $15,007,000. 60.54% of the stock is currently owned by institutional investors and hedge funds.
About Alamos Gold
Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.
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