Investors Buy Large Volume of Alamos Gold Call Options (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw some unusual options trading on Monday. Stock investors acquired 33,902 call options on the stock. This is an increase of approximately 673% compared to the average daily volume of 4,385 call options.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AGI. Norges Bank purchased a new position in Alamos Gold during the fourth quarter worth about $219,475,000. The Manufacturers Life Insurance Company lifted its position in shares of Alamos Gold by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after buying an additional 1,216,977 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Alamos Gold by 11.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock worth $351,072,000 after buying an additional 964,317 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Alamos Gold by 74.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,809,382 shares of the basic materials company’s stock worth $69,806,000 after buying an additional 770,569 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Alamos Gold in the 4th quarter worth approximately $21,219,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Down 4.8%

Shares of NYSE AGI traded down $1.66 during mid-day trading on Monday, reaching $32.84. 2,253,795 shares of the company’s stock traded hands, compared to its average volume of 4,094,839. The stock has a market cap of $13.74 billion, a P/E ratio of 11.86, a PEG ratio of 0.47 and a beta of 0.61. The business has a 50-day simple moving average of $33.86 and a 200 day simple moving average of $37.54. Alamos Gold has a 1-year low of $27.05 and a 1-year high of $55.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. During the same quarter in the prior year, the business posted $0.34 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. On average, analysts expect that Alamos Gold will post 2.11 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio is 5.78%.

Wall Street Analyst Weigh In

AGI has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Alamos Gold in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold’s principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.