Alamos Gold (NYSE:AGI) Shares Down 2% – Here’s What Happened

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price was down 2% on Monday . The company traded as low as $25.69 and last traded at $25.58. Approximately 292,942 shares traded hands during trading, a decline of 87% from the average daily volume of 2,321,317 shares. The stock had previously closed at $26.11.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AGI shares. Royal Bank of Canada boosted their target price on Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and a consensus price target of $26.06.

Alamos Gold Stock Down 0.8 %

The firm has a market cap of $10.89 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $22.46 and a two-hundred day moving average price of $20.48.

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

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 14.49%.

Institutional Investors Weigh In On Alamos Gold

Several institutional investors have recently modified their holdings of AGI. Dimensional Fund Advisors LP increased its holdings in Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after buying an additional 5,516,186 shares during the last quarter. Norges Bank acquired a new stake in shares of Alamos Gold during the 4th quarter worth about $100,694,000. CIBC Asset Management Inc raised its position in shares of Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after acquiring an additional 2,867,027 shares in the last quarter. FMR LLC lifted its stake in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after purchasing an additional 2,148,153 shares during the last quarter. Finally, Addenda Capital Inc. acquired a new position in Alamos Gold in the fourth quarter valued at approximately $34,869,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

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.