Alamos Gold Inc. (NYSE:AGI) Short Interest Up 7.1% in June

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 6,970,000 shares, an increase of 7.1% from the May 31st total of 6,510,000 shares. Based on an average daily volume of 2,470,000 shares, the short-interest ratio is currently 2.8 days. Approximately 1.8% of the company’s stock are short sold.

Alamos Gold Stock Up 3.2 %

Shares of AGI opened at $16.09 on Thursday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $17.29. The company has a 50 day moving average of $15.93 and a two-hundred day moving average of $14.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. The business had revenue of $277.60 million during the quarter, compared to the consensus estimate of $271.15 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts expect that Alamos Gold will post 0.7 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. Alamos Gold’s payout ratio is currently 19.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.75 to $27.25 in a research note on Tuesday, April 9th. National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Royal Bank of Canada increased their price objective on shares of Alamos Gold from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Finally, Jefferies Financial Group increased their price objective on shares of Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and an average price target of $18.15.

Institutional Investors Weigh In On Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Anchor Investment Management LLC acquired a new stake in shares of Alamos Gold during the fourth quarter worth $27,000. AJOVista LLC acquired a new stake in shares of Alamos Gold during the fourth quarter worth $83,000. Venturi Wealth Management LLC raised its holdings in shares of Alamos Gold by 20.7% during the first quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,200 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Alamos Gold during the fourth quarter worth $96,000. Finally, St. Johns Investment Management Company LLC purchased a new position in shares of Alamos Gold during the first quarter worth $115,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.