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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) gapped down prior to trading on Monday . The stock had previously closed at $18.87, but opened at $18.13. Alamos Gold shares last traded at $18.26, with a volume of 42,797 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group boosted their price target on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. StockNews.com downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Scotiabank increased their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada boosted their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold Price Performance

The stock has a market cap of $7.68 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.19. The stock’s fifty day moving average is $19.84 and its 200-day moving average is $18.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $360.90 million during the quarter. Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. As a group, equities analysts anticipate that Alamos Gold Inc. will post 0.76 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.025 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a yield of 0.55%. Alamos Gold’s dividend payout ratio is currently 16.67%.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Alamos Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock valued at $216,371,000 after acquiring an additional 250,207 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Alamos Gold by 131.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock valued at $1,434,000 after acquiring an additional 55,352 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after purchasing an additional 2,756,759 shares during the period. Bayesian Capital Management LP acquired a new position in Alamos Gold during the 1st quarter worth $452,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Alamos Gold during the 1st quarter worth $203,000. 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.