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 Tuesday . The stock had previously closed at $23.05, but opened at $23.55. Alamos Gold shares last traded at $23.04, with a volume of 516,253 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and an average price target of $26.06.

Alamos Gold Price Performance

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 company has a market capitalization of $9.76 billion, a P/E ratio of 33.62, a P/E/G ratio of 0.40 and a beta of 1.16. The company’s 50-day simple moving average is $20.77 and its 200 day simple moving average is $19.94.

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

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.025 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.43%. Alamos Gold’s dividend payout ratio is presently 14.49%.

Institutional Investors Weigh In On Alamos Gold

Large investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its stake in Alamos Gold by 2.0% in the third quarter. Natixis Advisors LLC now owns 27,681 shares of the basic materials company’s stock valued at $552,000 after purchasing an additional 531 shares in the last quarter. Baird Financial Group Inc. increased its position in Alamos Gold by 0.3% during the 4th quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company’s stock valued at $3,349,000 after purchasing an additional 614 shares during the period. Veracity Capital LLC increased its position in Alamos Gold by 3.2% in the 4th quarter. Veracity Capital LLC now owns 22,569 shares of the basic materials company’s stock valued at $416,000 after buying an additional 694 shares in the last quarter. Captrust Financial Advisors grew its position in Alamos Gold by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,798 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 728 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Alamos Gold by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 72,751 shares of the basic materials company’s stock worth $1,342,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

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.