Alamos Gold (NYSE:AGI) Shares Gap Down – What’s Next?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares gapped down prior to trading on Thursday. The stock had previously closed at $31.67, but opened at $29.17. Alamos Gold shares last traded at $28.9090, with a volume of 1,190,278 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a research report on Thursday. Jefferies Financial Group dropped their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The business has a 50 day simple moving average of $33.89 and a 200-day simple moving average of $38.18. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 0.45 and a beta of 0.59.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a return on equity of 19.29% and a net margin of 46.66%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. Equities research analysts expect that Alamos Gold Inc. will post 2.06 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.6%. Alamos Gold’s dividend payout ratio (DPR) is 5.78%.

Hedge Funds Weigh In On Alamos Gold

Hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its position in shares of Alamos Gold by 26.8% during the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock valued at $62,782,000 after acquiring an additional 298,900 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Alamos Gold by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock worth $74,757,000 after purchasing an additional 141,000 shares during the period. DJE Kapital AG raised its holdings in shares of Alamos Gold by 66.2% in the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock worth $12,665,000 after purchasing an additional 118,006 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Alamos Gold by 41.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock valued at $183,963,000 after purchasing an additional 1,216,977 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in Alamos Gold in the first quarter valued at approximately $13,332,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.