Short Interest in Alamos Gold Inc. (NYSE:AGI) Declines By 33.8%

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,100,000 shares, a decrease of 33.8% from the September 30th total of 4,680,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of Alamos Gold

Hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co boosted its position in Alamos Gold by 131.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock valued at $1,434,000 after buying an additional 55,352 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Alamos Gold by 3.4% during the first quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock worth $21,824,000 after purchasing an additional 45,412 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alamos Gold by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock worth $194,224,000 after purchasing an additional 216,280 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Alamos Gold by 66.2% during the first quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock worth $2,829,000 after purchasing an additional 76,379 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Performance

Shares of NYSE AGI traded down $0.32 during trading hours on Friday, hitting $20.77. 1,583,020 shares of the stock were exchanged, compared to its average volume of 2,347,516. The company has a market cap of $8.29 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The company’s fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $17.53. Alamos Gold has a 1-year low of $11.24 and a 1-year high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, sell-side analysts expect that Alamos Gold will post 0.75 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.025 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.48%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. National Bank Financial cut 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. StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their target price on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Scotiabank raised their target price on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.06.

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.