Alamos Gold Inc. (NYSE:AGI) Sees Significant Increase in Short Interest

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,340,000 shares, a growth of 7.7% from the October 15th total of 3,100,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors have recently bought and sold shares of AGI. Hara Capital LLC acquired a new stake in Alamos Gold during the third quarter valued at $47,000. Baldwin Brothers LLC MA purchased a new stake in shares of Alamos Gold during the second quarter worth $47,000. Daiwa Securities Group Inc. purchased a new stake in Alamos Gold during the 2nd quarter valued at about $48,000. Eastern Bank acquired a new stake in shares of Alamos Gold in the third quarter valued at approximately $111,000. Finally, Employees Retirement System of Texas acquired a new stake in Alamos Gold during the second quarter worth about $88,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AGI has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their price target 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. Scotiabank boosted their target price 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. Finally, National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.06.

Alamos Gold Trading Up 0.7 %

Shares of AGI traded up $0.13 during midday trading on Tuesday, hitting $18.45. The stock had a trading volume of 188,246 shares, compared to its average volume of 2,368,130. Alamos Gold has a 1 year low of $11.24 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The stock’s 50 day moving average is $19.91 and its 200 day moving average is $18.03. The firm has a market cap of $7.75 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 0.79 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 for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The company had revenue of $360.90 million for the quarter. As a group, analysts forecast that Alamos Gold will post 0.76 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.54%. Alamos Gold’s dividend payout ratio is currently 16.67%.

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.