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

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AGI shares. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Bank of America upped their price target on shares of Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Scotiabank boosted their price objective on Alamos Gold from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Finally, TD Securities reiterated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and an average price target of $44.25.

Alamos Gold Stock Down 13.3%

The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 0.41 and a beta of 0.63. The firm has a fifty day moving average price of $39.11 and a 200 day moving average price of $33.48. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $490.96 million. During the same quarter last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business 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 presently 7.81%.

Institutional Investors Weigh In On Alamos Gold

Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its position in Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after purchasing an additional 11,876,324 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Alamos Gold by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock valued at $678,291,000 after purchasing an additional 332,335 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Alamos Gold by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after acquiring an additional 2,521,347 shares during the period. Mackenzie Financial Corp lifted its holdings in Alamos Gold by 6.3% during the 3rd quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock worth $332,724,000 after purchasing an additional 567,926 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Alamos Gold during the second quarter worth $144,808,000. Institutional investors and hedge funds 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.