Alamos Gold Inc. (NYSE:AGI) Sees Significant Drop in Short Interest

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 4,880,000 shares, a decrease of 9.1% from the August 15th total of 5,370,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 1,960,000 shares, the short-interest ratio is currently 2.5 days.

Institutional Investors Weigh In On Alamos Gold

A number of hedge funds have recently made changes to their positions in AGI. Baldwin Brothers LLC MA bought a new stake in shares of Alamos Gold in the 2nd quarter valued at about $47,000. Daiwa Securities Group Inc. bought a new position in shares of Alamos Gold in the second quarter worth approximately $48,000. Employees Retirement System of Texas purchased a new position in shares of Alamos Gold in the second quarter worth $88,000. St. Johns Investment Management Company LLC bought a new stake in Alamos Gold during the 1st quarter valued at $115,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Alamos Gold during the 1st quarter valued at $203,000. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Trading Down 1.2 %

Shares of NYSE:AGI traded down $0.24 during trading on Wednesday, reaching $20.20. The company had a trading volume of 2,526,557 shares, compared to its average volume of 2,319,590. The company has a fifty day moving average of $18.30 and a two-hundred day moving average of $16.34. The stock has a market capitalization of $8.07 billion, a P/E ratio of 38.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.18. Alamos Gold has a 12 month low of $10.78 and a 12 month high of $21.14.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, equities research analysts predict that Alamos Gold will post 0.75 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank boosted 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. Royal Bank of Canada upped their price target on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, Jefferies Financial Group upped their target price on shares of Alamos Gold from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $23.81.

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.