Alamos Gold Inc (NYSE:AGI) (TSE:AGI) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 7,360,000 shares, a decrease of 12.7% from the September 15th total of 8,430,000 shares. Based on an average daily trading volume, of 2,920,000 shares, the short-interest ratio is currently 2.5 days. Currently, 1.9% of the company’s stock are short sold.
A number of analysts have weighed in on the company. ValuEngine lowered Alamos Gold from a “sell” rating to a “strong sell” rating in a report on Sunday. National Bank Financial lowered their target price on Alamos Gold from $11.00 to $10.50 and set a “sector perform” rating for the company in a report on Monday, October 21st. TheStreet raised Alamos Gold from a “d+” rating to a “c-” rating in a research report on Thursday, July 18th. Zacks Investment Research raised Alamos Gold from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Tuesday, July 9th. Finally, Raymond James reaffirmed a “hold” rating and set a $10.50 price target on shares of Alamos Gold in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.21.
Shares of AGI stock traded down $0.04 during trading hours on Wednesday, reaching $5.07. 3,082,836 shares of the company’s stock were exchanged, compared to its average volume of 2,449,549. The stock’s 50 day moving average is $5.81 and its 200-day moving average is $5.82. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 101.40 and a beta of 0.19. Alamos Gold has a fifty-two week low of $2.90 and a fifty-two week high of $7.78.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, September 13th. Alamos Gold’s payout ratio is 80.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGI. Renaissance Technologies LLC increased its position in shares of Alamos Gold by 28.6% in the 2nd quarter. Renaissance Technologies LLC now owns 8,214,071 shares of the basic materials company’s stock valued at $49,695,000 after acquiring an additional 1,824,900 shares during the period. Invesco Ltd. boosted its holdings in Alamos Gold by 88.9% in the second quarter. Invesco Ltd. now owns 3,713,202 shares of the basic materials company’s stock valued at $22,466,000 after purchasing an additional 1,747,375 shares during the last quarter. Morgan Stanley boosted its holdings in Alamos Gold by 24.1% in the second quarter. Morgan Stanley now owns 5,325,843 shares of the basic materials company’s stock valued at $32,221,000 after purchasing an additional 1,035,842 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Alamos Gold in the second quarter valued at $5,962,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Alamos Gold by 37.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,157,123 shares of the basic materials company’s stock valued at $13,041,000 after purchasing an additional 583,500 shares during the last quarter. 55.19% of the stock is currently owned by hedge funds and other institutional investors.
Alamos Gold Company Profile
Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada.
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