Alamos Gold (NYSE:AGI) Shares Gap Down After Analyst Downgrade

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s share price gapped down before the market opened on Monday after Bank of America lowered their price target on the stock from $57.00 to $50.00. The stock had previously closed at $36.34, but opened at $32.19. Bank of America currently has a buy rating on the stock. Alamos Gold shares last traded at $31.4840, with a volume of 3,217,928 shares changing hands.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Saturday. Finally, Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of $53.00.

Institutional Trading of Alamos Gold

Several institutional investors have recently added to or reduced their stakes in the business. Wealth High Governance Capital Ltda acquired a new stake in shares of Alamos Gold during the first quarter worth $6,241,000. Wealth High Governance Asset Management Ltda. acquired a new position in shares of Alamos Gold in the 1st quarter valued at about $5,291,000. PVG Asset Management Corp grew its position in shares of Alamos Gold by 746.8% during the 1st quarter. PVG Asset Management Corp now owns 45,244 shares of the basic materials company’s stock valued at $2,010,000 after buying an additional 39,901 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Alamos Gold during the 1st quarter valued at about $35,000. Finally, Groupama Asset Managment raised its stake in Alamos Gold by 9.9% during the first quarter. Groupama Asset Managment now owns 499,286 shares of the basic materials company’s stock worth $22,183,000 after acquiring an additional 44,899 shares during the period. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Down 14.1%

The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.47 and a beta of 0.49. The firm’s 50 day moving average is $41.16 and its two-hundred day moving average is $42.15. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter last year, the company posted $0.14 earnings per share. Alamos Gold’s revenue was up 79.2% on a year-over-year basis. Equities analysts anticipate that Alamos Gold Inc. will post 2.46 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is 6.37%.

Alamos Gold Company Profile

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.