Alamos Gold (NYSE:AGI) Trading Down 9.9% – Here’s What Happened

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares traded down 9.9% during mid-day trading on Friday . The stock traded as low as $38.68 and last traded at $37.9620. 2,747,029 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 3,293,171 shares. The stock had previously closed at $42.12.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Desjardins assumed coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Bank of America boosted their price objective on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $44.25.

Alamos Gold Price Performance

The business has a 50 day simple moving average of $39.11 and a two-hundred day simple moving average of $33.48. The firm has a market capitalization of $15.33 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 0.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The firm had revenue of $462.30 million for the quarter, compared to analyst estimates of $490.96 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, sell-side analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 annualized dividend and a yield of 0.3%. Alamos Gold’s dividend payout ratio is currently 7.81%.

Institutional Investors Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Alamos Gold by 20.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock worth $390,000 after acquiring an additional 2,493 shares in the last quarter. Calamos Wealth Management LLC purchased a new stake in Alamos Gold during the 2nd quarter valued at $3,070,000. Y Intercept Hong Kong Ltd bought a new stake in Alamos Gold in the 2nd quarter worth about $1,502,000. PCJ Investment Counsel Ltd. grew its position in Alamos Gold by 37.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock worth $2,282,000 after purchasing an additional 23,560 shares during the period. Finally, Montrusco Bolton Investments Inc. purchased a new stake in Alamos Gold during the second quarter valued at $10,664,000. Institutional investors own 64.33% of the company’s stock.

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.