Alamos Gold (NYSE:AGI) Shares Gap Up – Here’s What Happened

Shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) gapped up prior to trading on Wednesday . The stock had previously closed at $24.50, but opened at $25.81. Alamos Gold shares last traded at $26.12, with a volume of 1,020,497 shares.

Analyst Ratings Changes

AGI has been the topic of several analyst reports. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Bank of America cut their price objective on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Royal Bank of Canada boosted their price target on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus target price of $27.63.

Alamos Gold Trading Up 6.7 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The business has a fifty day moving average of $24.00 and a 200-day moving average of $21.04. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The company had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. On average, equities analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.38%. Alamos Gold’s dividend payout ratio (DPR) is presently 14.49%.

Hedge Funds Weigh In On Alamos Gold

A number of hedge funds have recently modified their holdings of AGI. Dimensional Fund Advisors LP increased its stake in Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock worth $136,011,000 after purchasing an additional 5,516,186 shares in the last quarter. Norges Bank purchased a new position in shares of Alamos Gold in the fourth quarter worth approximately $100,694,000. CIBC Asset Management Inc raised its holdings in shares of Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after acquiring an additional 2,867,027 shares during the period. Addenda Capital Inc. purchased a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $34,869,000. Finally, Raymond James Financial Inc. acquired a new position in Alamos Gold in the 4th quarter worth approximately $28,950,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.