Short Interest in Alamos Gold Inc. (NYSE:AGI) Increases By 103.6%

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 14,070,000 shares, a growth of 103.6% from the September 15th total of 6,910,000 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 3,760,000 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily volume of 3,760,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.4% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AGI shares. CIBC reiterated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 15th. National Bankshares reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Alamos Gold in a research note on Wednesday, October 8th. Bank of America boosted their target price on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus target price of $35.33.

Alamos Gold Stock Down 7.8%

AGI stock opened at $34.53 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The stock has a market capitalization of $14.52 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.55 and a beta of 0.50. The business has a 50-day moving average of $31.60 and a 200-day moving average of $28.30. Alamos Gold has a fifty-two week low of $17.42 and a fifty-two week high of $37.54.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $438.20 million during the quarter, compared to analysts’ expectations of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.Alamos Gold’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Alamos Gold will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 11th. Alamos Gold’s dividend payout ratio is currently 12.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Addenda Capital Inc. boosted its position in Alamos Gold by 12.3% during the second quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after purchasing an additional 212,918 shares during the last quarter. Calamos Wealth Management LLC acquired a new position in Alamos Gold during the second quarter valued at approximately $3,070,000. Montrusco Bolton Investments Inc. acquired a new position in Alamos Gold during the second quarter valued at approximately $10,664,000. Wealth Enhancement Advisory Services LLC acquired a new position in Alamos Gold during the first quarter valued at approximately $320,000. Finally, Confluence Investment Management LLC acquired a new position in Alamos Gold during the second quarter valued at approximately $717,000. 64.33% of the stock is owned by institutional investors and hedge funds.

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.