Alamos Gold (NYSE:AGI) Stock Price Down 2% – Here’s Why

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) shares dropped 2% during trading on Monday . The company traded as low as $25.69 and last traded at $25.58. Approximately 292,942 shares changed hands during trading, a decline of 87% from the average daily volume of 2,321,317 shares. The stock had previously closed at $26.11.

Wall Street Analysts Forecast Growth

AGI has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. National Bank Financial raised Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and an average price target of $26.06.

Alamos Gold Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15. The firm’s 50 day moving average is $22.72 and its 200-day moving average is $20.59.

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

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, March 13th. Alamos Gold’s dividend payout ratio is 14.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AGI. PKO Investment Management Joint Stock Co acquired a new stake in shares of Alamos Gold in the fourth quarter valued at about $3,331,000. B. Riley Wealth Advisors Inc. increased its position in Alamos Gold by 45.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 185,652 shares of the basic materials company’s stock worth $3,423,000 after buying an additional 58,402 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Alamos Gold by 2.0% during the fourth quarter. Mackenzie Financial Corp now owns 7,371,629 shares of the basic materials company’s stock worth $135,855,000 after buying an additional 145,726 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $711,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $4,260,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

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.