Alamos Gold (NYSE:AGI) Shares Gap Up – Should You Buy?

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $23.05, but opened at $23.55. Alamos Gold shares last traded at $23.04, with a volume of 516,253 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. National Bank Financial raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on shares of Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.06.

Alamos Gold Stock Performance

The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $9.76 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.16. The business has a 50 day moving average of $20.77 and a 200 day moving average of $19.94.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The business had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $388.06 million. On average, sell-side analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.43%. Alamos Gold’s dividend payout ratio is currently 14.49%.

Hedge Funds Weigh In On Alamos Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Alamos Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock valued at $295,105,000 after purchasing an additional 279,280 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Alamos Gold by 17.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock valued at $173,991,000 after buying an additional 1,424,550 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after buying an additional 2,867,027 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Alamos Gold by 4.4% during the fourth quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company’s stock worth $138,932,000 after acquiring an additional 318,360 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock worth $136,011,000 after acquiring an additional 5,516,186 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

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.