Alamos Gold (NYSE:AGI) Shares Gap Down – Time to Sell?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) gapped down before the market opened on Thursday. The stock had previously closed at $31.67, but opened at $29.17. Alamos Gold shares last traded at $28.9090, with a volume of 1,190,278 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AGI shares. Zacks Research downgraded Alamos Gold from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Alamos Gold in a research note on Wednesday, September 16th. Weiss Ratings raised shares of Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Jefferies Financial Group reduced their price objective on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Stock Performance

The firm has a fifty day simple moving average of $34.22 and a 200-day simple moving average of $38.32. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The company has a market cap of $12.15 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.46 and a beta of 0.59.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%. The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. On average, research analysts forecast that Alamos Gold Inc. will post 2.06 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.6%. Alamos Gold’s payout ratio is 5.78%.

Institutional Investors Weigh In On Alamos Gold

Several large investors have recently modified their holdings of AGI. Parallel Advisors LLC acquired a new position in shares of Alamos Gold in the 1st quarter valued at $35,000. Mather Group LLC. acquired a new stake in Alamos Gold during the 3rd quarter worth $29,000. Versant Capital Management Inc boosted its stake in Alamos Gold by 258.0% during the 3rd quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 885 shares during the period. Sunbelt Securities Inc. purchased a new position in Alamos Gold during the 1st quarter worth $59,000. Finally, CoreCap Advisors LLC grew its position in Alamos Gold by 146.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,900 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 1,130 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.