Short Interest in Alamos Gold Inc. (NYSE:AGI) Drops By 29.7%

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,390,000 shares, a drop of 29.7% from the November 15th total of 3,400,000 shares. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is presently 1.0 days. Approximately 0.6% of the company’s shares are sold short.

Alamos Gold Stock Down 2.3 %

NYSE AGI traded down $0.44 during mid-day trading on Friday, hitting $19.11. The company’s stock had a trading volume of 1,586,600 shares, compared to its average volume of 2,339,976. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 0.93 and a beta of 1.15. The company’s 50 day simple moving average is $19.48 and its 200 day simple moving average is $18.37. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Alamos Gold has a twelve month low of $11.24 and a twelve month high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data 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). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The business had revenue of $360.90 million for the quarter. Analysts anticipate that Alamos Gold will post 0.77 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Thursday, December 5th. Alamos Gold’s dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Scotiabank lifted their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group increased their target price on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. National Bank Financial raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $25.06.

Institutional Trading of Alamos Gold

Several institutional investors and hedge funds have recently modified their holdings of AGI. Hara Capital LLC bought a new stake in Alamos Gold during the third quarter worth $47,000. Daiwa Securities Group Inc. purchased a new position in Alamos Gold during the 2nd quarter worth $48,000. Employees Retirement System of Texas bought a new stake in shares of Alamos Gold in the 2nd quarter worth $88,000. Eastern Bank bought a new stake in shares of Alamos Gold in the 3rd quarter worth $111,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Alamos Gold in the third quarter valued at about $147,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.