Traders Purchase Large Volume of Alamos Gold Call Options (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the target of some unusual options trading activity on Tuesday. Traders acquired 11,737 call options on the stock. This represents an increase of approximately 333% compared to the average volume of 2,710 call options.

Alamos Gold Stock Performance

Shares of Alamos Gold stock traded up $0.17 during trading on Tuesday, reaching $17.73. The company had a trading volume of 1,157,531 shares, compared to its average volume of 2,351,975. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $17.91. The firm’s fifty day moving average is $16.24 and its 200-day moving average is $14.36. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. Alamos Gold had a return on equity of 7.38% and a net margin of 19.41%. Alamos Gold’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share. On average, research analysts anticipate that Alamos Gold will post 0.73 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Thursday, June 13th. Alamos Gold’s dividend payout ratio is presently 19.23%.

Institutional Trading of Alamos Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Anchor Investment Management LLC acquired a new position in Alamos Gold during the 4th quarter valued at approximately $27,000. Baldwin Brothers LLC MA bought a new stake in Alamos Gold in the second quarter valued at $47,000. AJOVista LLC acquired a new position in shares of Alamos Gold during the fourth quarter valued at $83,000. Fifth Third Bancorp bought a new position in shares of Alamos Gold during the fourth quarter worth about $96,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Alamos Gold by 20.7% in the 1st quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 1,200 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 23rd. Scotiabank lifted their price objective on shares of Alamos Gold from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. Finally, StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Alamos Gold Company Profile

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.