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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw some unusual options trading activity on Tuesday. Stock traders bought 6,515 call options on the stock. This represents an increase of approximately 147% compared to the average volume of 2,638 call options.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors have recently bought and sold shares of AGI. Norges Bank purchased a new position in Alamos Gold during the fourth quarter worth about $64,117,000. Van ECK Associates Corp raised its stake in Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after purchasing an additional 4,009,220 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. Ninety One UK Ltd raised its stake in Alamos Gold by 84.9% during the fourth quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after purchasing an additional 1,378,456 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of Alamos Gold by 3,490.2% in the 4th quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock valued at $16,373,000 after acquiring an additional 1,179,695 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Jefferies Financial Group lifted their target price on shares of Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada lifted their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Trading Up 1.1 %

NYSE:AGI opened at $15.47 on Wednesday. The company’s 50-day moving average price is $15.79 and its 200-day moving average price is $14.04. The company has a market cap of $6.16 billion, a P/E ratio of 29.75, a P/E/G ratio of 0.70 and a beta of 1.23. Alamos Gold has a twelve month low of $10.78 and a twelve month high of $17.29.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $277.60 million for the quarter, compared to the consensus estimate of $271.15 million. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, analysts expect that Alamos Gold will post 0.69 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, June 13th. Alamos Gold’s dividend payout ratio (DPR) 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.