Traders Purchase Large Volume of Alamos Gold Call Options (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of some unusual options trading activity on Monday. Investors acquired 33,902 call options on the stock. This represents an increase of approximately 673% compared to the average volume of 4,385 call options.

Analysts Set New Price Targets

Several brokerages have recently commented on AGI. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Alamos Gold in a research note on Wednesday, September 16th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Weiss Ratings cut Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Alamos Gold during the 4th quarter valued at $219,475,000. The Manufacturers Life Insurance Company grew its stake in shares of Alamos Gold by 41.6% in 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 acquiring an additional 1,216,977 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Alamos Gold by 11.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock valued at $351,072,000 after purchasing an additional 964,317 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Alamos Gold by 74.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,382 shares of the basic materials company’s stock valued at $69,806,000 after purchasing an additional 770,569 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Alamos Gold during the fourth quarter valued at about $21,219,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Up 1.0%

Shares of NYSE AGI opened at $33.06 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The company has a 50-day moving average price of $34.02 and a 200-day moving average price of $37.30. The stock has a market capitalization of $13.83 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.44 and a beta of 0.61. Alamos Gold has a 1 year low of $27.05 and a 1 year high of $55.41.

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, equities research analysts forecast 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%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company’s activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold’s principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.