Alamos Gold (NYSE:AGI) Shares Gap Down – What’s Next?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) gapped down before the market opened on Thursday . The stock had previously closed at $42.99, but opened at $39.61. Alamos Gold shares last traded at $40.4490, with a volume of 1,056,634 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Desjardins started coverage on Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Finally, Bank of America increased their price target on Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and a consensus target price of $43.00.

Alamos Gold Stock Performance

The firm’s fifty day simple moving average is $37.17 and its 200 day simple moving average is $32.39. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 0.40 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The business had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. On average, sell-side analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 4th. Alamos Gold’s payout ratio is currently 7.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AGI. Van ECK Associates Corp lifted its stake in shares of Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock worth $1,587,666,000 after buying an additional 11,876,324 shares during the last quarter. Norges Bank acquired a new position in Alamos Gold during the 2nd quarter worth $144,808,000. Geode Capital Management LLC boosted its holdings in Alamos Gold by 639.2% during the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares during the period. CIBC Asset Management Inc grew its position in shares of Alamos Gold by 29.3% in the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after purchasing an additional 2,521,347 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Alamos Gold by 32.3% in the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after purchasing an additional 2,192,593 shares during the last quarter. 64.33% of the stock is owned by institutional investors.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.