Alamos Gold (NYSE:AGI) Shares Gap Up – Here’s What Happened

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) gapped up before the market opened on Monday . The stock had previously closed at $29.58, but opened at $30.73. Alamos Gold shares last traded at $29.96, with a volume of 447,588 shares trading hands.

Wall Street Analysts Forecast Growth

AGI has been the topic of several analyst reports. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Bank of America reduced their price objective on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. Royal Bank of Canada upped their price target on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Finally, National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alamos Gold presently has an average rating of “Buy” and a consensus price target of $30.38.

Alamos Gold Trading Down 0.5 %

The company has a 50 day simple moving average of $25.24 and a two-hundred day simple moving average of $21.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The firm has a market cap of $12.38 billion, a PE ratio of 42.65, a P/E/G ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The firm had revenue of $375.80 million for the quarter, compared to analyst estimates of $388.06 million. Analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.34%. Alamos Gold’s payout ratio is currently 14.49%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AGI. Dimensional Fund Advisors LP lifted its stake in shares of Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after purchasing an additional 5,516,186 shares during the period. Norges Bank purchased a new position in Alamos Gold in the fourth quarter valued at $100,694,000. CIBC Asset Management Inc increased its holdings in Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after buying an additional 2,867,027 shares in the last quarter. Addenda Capital Inc. acquired a new position in shares of Alamos Gold in the fourth quarter worth about $34,869,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alamos Gold during the 4th quarter worth about $28,950,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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.