Alamos Gold (NYSE:AGI) Trading 5.4% Higher – Here’s What Happened

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) traded up 5.4% during trading on Tuesday . The stock traded as high as $19.53 and last traded at $19.53. 986,246 shares traded hands during trading, a decline of 58% from the average session volume of 2,353,035 shares. The stock had previously closed at $18.53.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Royal Bank of Canada increased their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. Scotiabank increased their price objective on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $25.06.

Alamos Gold Price Performance

The firm has a 50-day moving average of $19.59 and a 200-day moving average of $18.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62. The firm has a market capitalization of $8.16 billion, a P/E ratio of 30.88, a PEG ratio of 0.76 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The business had revenue of $360.90 million for the quarter. As a group, analysts predict that Alamos Gold Inc. will post 0.77 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, December 5th. Alamos Gold’s payout ratio is 16.67%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AGI. Baldwin Brothers LLC MA bought a new position in shares of Alamos Gold in the second quarter worth about $47,000. Hara Capital LLC bought a new position in Alamos Gold in the 3rd quarter worth approximately $47,000. Daiwa Securities Group Inc. purchased a new stake in Alamos Gold during the 2nd quarter valued at approximately $48,000. Employees Retirement System of Texas bought a new stake in shares of Alamos Gold during the second quarter valued at approximately $88,000. Finally, Eastern Bank purchased a new position in shares of Alamos Gold in the third quarter worth $111,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.