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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

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

Alamos Gold Stock Up 0.4 %

The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $19.75 and its 200-day moving average price is $18.17. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 0.83 and a beta of 1.19.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The business had revenue of $360.90 million for the quarter. Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. On average, sell-side analysts expect that Alamos Gold Inc. will post 0.76 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.025 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.54%. Alamos Gold’s payout ratio is 16.67%.

Institutional Investors Weigh In On Alamos Gold

Institutional investors have recently bought and sold shares of the stock. Baldwin Brothers LLC MA purchased a new stake in shares of Alamos Gold in the second quarter valued at about $47,000. Hara Capital LLC purchased a new stake in Alamos Gold in the 3rd quarter valued at about $47,000. Daiwa Securities Group Inc. purchased a new position in shares of Alamos Gold in the 2nd quarter worth approximately $48,000. Employees Retirement System of Texas purchased a new stake in shares of Alamos Gold during the second quarter valued at approximately $88,000. Finally, Eastern Bank bought a new position in Alamos Gold in the 3rd quarter valued at $111,000. Institutional investors own 64.33% of the company’s stock.

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.