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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 6,370,000 shares, an increase of 14.0% from the June 30th total of 5,590,000 shares. Based on an average daily trading volume, of 2,050,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages have weighed in on AGI. Jefferies Financial Group raised their price target on Alamos Gold from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Scotiabank boosted their target price on shares of Alamos Gold from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. 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 five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.75.

Alamos Gold Stock Up 2.2 %

Shares of NYSE:AGI traded up $0.37 during trading on Monday, reaching $16.88. 961,786 shares of the company’s stock traded hands, compared to its average volume of 2,306,123. The firm has a market cap of $7.08 billion, a PE ratio of 31.75, a P/E/G ratio of 0.78 and a beta of 1.16. Alamos Gold has a fifty-two week low of $10.78 and a fifty-two week high of $17.91. The company has a 50-day simple moving average of $16.45 and a 200-day simple moving average of $14.61.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Institutional Trading of Alamos Gold

A number of institutional investors have recently made changes to their positions in AGI. Van ECK Associates Corp lifted its stake in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after purchasing an additional 4,009,220 shares in the last quarter. Vanguard Group Inc. lifted its position in Alamos Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after buying an additional 250,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after buying an additional 2,756,759 shares during the last quarter. Norges Bank acquired a new position in Alamos Gold during the fourth quarter worth $64,117,000. Finally, Bank of New York Mellon Corp grew its holdings in Alamos Gold by 31.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock valued at $68,576,000 after buying an additional 1,058,000 shares in the last quarter. 64.33% of the stock is 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.