Alamos Gold Inc. (NYSE:AGI) Short Interest Update

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 2,390,000 shares, a decline of 29.7% from the November 15th total of 3,400,000 shares. Based on an average daily volume of 2,500,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.6% of the shares of the stock are short sold.

Alamos Gold Price Performance

Shares of AGI traded down $0.44 during trading hours on Friday, reaching $19.11. The stock had a trading volume of 1,586,600 shares, compared to its average volume of 2,339,976. The stock has a market capitalization of $8.03 billion, a PE ratio of 31.85, a PEG ratio of 0.93 and a beta of 1.15. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45. 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 company’s 50-day moving average is $19.48 and its two-hundred day moving average is $18.37.

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

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.52%. Alamos Gold’s dividend payout ratio is presently 16.67%.

Hedge Funds Weigh In On Alamos Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGI. Mackenzie Financial Corp grew its stake in shares of Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after purchasing an additional 4,521,282 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Alamos Gold by 79.3% in the 3rd quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company’s stock valued at $97,336,000 after buying an additional 2,149,915 shares during the last quarter. FMR LLC increased its stake in shares of Alamos Gold by 50.8% in the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after buying an additional 2,148,153 shares during the period. Triasima Portfolio Management inc. raised its position in shares of Alamos Gold by 328.2% during the second quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock worth $21,779,000 after acquiring an additional 1,064,629 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Alamos Gold by 31.9% during the second quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock worth $68,576,000 after acquiring an additional 1,058,000 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank raised 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus price target of $25.06.

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.