Stock Traders Buy Large Volume of Alamos Gold Call Options (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of unusually large options trading on Tuesday. Investors bought 10,639 call options on the company. This represents an increase of 198% compared to the typical volume of 3,566 call options.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AGI. Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Jefferies Financial Group reduced their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Weiss Ratings cut shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada decreased their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AGI. Goldman Sachs Group Inc. grew its position in Alamos Gold by 105.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after buying an additional 1,227,695 shares in the last quarter. Empowered Funds LLC acquired a new position in Alamos Gold in the 1st quarter valued at approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alamos Gold by 129.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after acquiring an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Alamos Gold by 375.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock worth $26,042,000 after acquiring an additional 774,111 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Alamos Gold by 6.9% during the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after purchasing an additional 26,045 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

Shares of AGI stock traded down $0.15 during trading hours on Tuesday, reaching $36.82. 487,449 shares of the company’s stock were exchanged, compared to its average volume of 4,115,208. Alamos Gold has a fifty-two week low of $27.05 and a fifty-two week high of $55.41. The stock has a market capitalization of $15.41 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.50 and a beta of 0.61. The business has a fifty day moving average price of $32.29 and a 200-day moving average price of $39.00. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The business had revenue of $594.10 million for the quarter, compared to the consensus estimate of $593.58 million. During the same quarter last year, the company posted $0.34 earnings per share. Alamos Gold’s quarterly revenue was up 35.6% on a year-over-year basis. Analysts predict that Alamos Gold will post 2.12 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Alamos Gold’s dividend payout ratio is 5.78%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.