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

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,100,000 shares, a decline of 33.8% from the September 30th total of 4,680,000 shares. Based on an average daily trading volume, of 2,400,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.7% of the company's stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kercheville Advisors LLC raised its holdings in Alamos Gold by 42.5% in the 3rd quarter. Kercheville Advisors LLC now owns 87,850 shares of the basic materials company's stock worth $1,753,000 after purchasing an additional 26,200 shares during the period. Legacy Capital Group California Inc. bought a new position in shares of Alamos Gold in the third quarter worth about $211,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Alamos Gold in the third quarter worth about $1,196,000. International Assets Investment Management LLC purchased a new position in shares of Alamos Gold during the 3rd quarter valued at about $3,290,000. Finally, Eastern Bank bought a new position in shares of Alamos Gold during the 3rd quarter valued at approximately $111,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Analysts Set New Price Targets

AGI has been the topic of a number of recent research reports. Scotiabank increased their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Jefferies Financial Group increased their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, October 4th. StockNews.com cut shares of Alamos Gold from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, National Bank Financial lowered shares of Alamos Gold from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.06.

Alamos Gold Price Performance

Shares of AGI traded down $0.32 during trading hours on Friday, hitting $20.77. The stock had a trading volume of 1,583,020 shares, compared to its average volume of 2,347,516. The firm has a market capitalization of $8.29 billion, a PE ratio of 39.94, a PEG ratio of 0.86 and a beta of 1.18. Alamos Gold has a 12 month low of $11.24 and a 12 month high of $21.45. The stock has a fifty day moving average price of $19.84 and a 200 day moving average price of $17.53.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. During the same period in the previous year, the company posted $0.15 EPS. The business's quarterly revenue was up 27.4% compared to the same quarter last year. As a group, analysts anticipate that Alamos Gold will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.48%. Alamos Gold's payout ratio is presently 19.23%.

About Alamos Gold

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.