Alamos Gold Inc. (NYSE:AGI) Short Interest Update

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 6,970,000 shares, a growth of 7.1% from the May 31st total of 6,510,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the short-interest ratio is presently 2.8 days. Currently, 1.8% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research firms recently weighed in on AGI. Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and upped their price target for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. Royal Bank of Canada upped their price target on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group upped their price target on Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Finally, StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.15.

Hedge Funds Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in Alamos Gold in the 4th quarter worth $27,000. AJOVista LLC bought a new position in Alamos Gold in the 4th quarter worth $83,000. Fifth Third Bancorp bought a new position in Alamos Gold in the 4th quarter worth $96,000. Venturi Wealth Management LLC raised its holdings in Alamos Gold by 20.7% in the 1st quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,200 shares during the period. Finally, St. Johns Investment Management Company LLC bought a new position in Alamos Gold in the 1st quarter worth $115,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Stock Performance

Shares of NYSE AGI traded up $0.05 during midday trading on Tuesday, hitting $15.59. 2,273,402 shares of the stock traded hands, compared to its average volume of 2,421,184. The firm has a 50-day moving average of $15.91 and a two-hundred day moving average of $14.16. The firm has a market capitalization of $6.22 billion, a P/E ratio of 29.98, a PEG ratio of 0.71 and a beta of 1.16. Alamos Gold has a one year low of $10.78 and a one year high of $17.29.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. Alamos Gold had a return on equity of 7.38% and a net margin of 19.41%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Equities analysts forecast that Alamos Gold will post 0.7 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.64%. Alamos Gold’s payout ratio is 19.23%.

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.