Alamos Gold Inc (NYSE:AGI) Sees Large Growth in Short Interest

Alamos Gold Inc (NYSE:AGI) (TSE:AGI) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,320,000 shares, an increase of 21.2% from the August 31st total of 2,740,000 shares. Based on an average daily trading volume, of 3,020,000 shares, the days-to-cover ratio is presently 1.1 days.

Hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new stake in shares of Alamos Gold during the 2nd quarter worth approximately $40,000. Pathstone Family Office LLC acquired a new stake in Alamos Gold in the first quarter worth $50,000. Pictet Asset Management Ltd. acquired a new stake in Alamos Gold in the first quarter worth $58,000. Rockefeller Capital Management L.P. bought a new stake in Alamos Gold in the second quarter valued at $71,000. Finally, HighTower Advisors LLC acquired a new position in shares of Alamos Gold during the first quarter valued at $77,000. Institutional investors own 53.48% of the company’s stock.

AGI traded up $0.08 during trading hours on Thursday, hitting $8.89. 1,438,072 shares of the stock were exchanged, compared to its average volume of 3,373,799. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 63.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.11. The stock has a 50-day simple moving average of $9.80 and a 200-day simple moving average of $8.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.81 and a quick ratio of 2.63. Alamos Gold has a 12 month low of $3.34 and a 12 month high of $11.58.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.03. Alamos Gold had a net margin of 8.32% and a return on equity of 3.54%. The company had revenue of $126.20 million for the quarter, compared to the consensus estimate of $111.60 million. During the same period last year, the firm posted $0.05 EPS. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. Sell-side analysts expect that Alamos Gold will post 0.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.06 dividend on an annualized basis and a yield of 0.67%. Alamos Gold’s dividend payout ratio is currently 30.00%.

Several analysts have issued reports on AGI shares. CIBC increased their price objective on shares of Alamos Gold from $18.00 to $19.25 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Zacks Investment Research downgraded shares of Alamos Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, September 15th. TD Securities upped their price objective on shares of Alamos Gold from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. BMO Capital Markets lifted their target price on Alamos Gold from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Royal Bank of Canada reduced their price target on Alamos Gold from $8.50 to $7.50 and set a “sector perform” rating for the company in a report on Wednesday, July 15th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.44.

Alamos Gold Company Profile

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada.

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