Alamos Gold Inc. (NYSE:AGI) Short Interest Up 7.1% in June

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 6,970,000 shares, a growth of 7.1% from the May 31st total of 6,510,000 shares. Based on an average trading volume of 2,470,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.8% of the company’s shares are short sold.

Institutional Trading of Alamos Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in Alamos Gold by 9.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,011,874 shares of the basic materials company’s stock valued at $40,525,000 after buying an additional 258,688 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of 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 valued at $40,580,000 after purchasing an additional 1,378,456 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Alamos Gold by 74.5% during the fourth quarter. Raymond James & Associates now owns 472,938 shares of the basic materials company’s stock valued at $6,370,000 after purchasing an additional 201,905 shares during the last quarter. Barometer Capital Management Inc. bought a new position in shares of Alamos Gold during the fourth quarter valued at approximately $2,225,000. Finally, Aigen Investment Management LP grew its holdings in shares of Alamos Gold by 115.7% during the fourth quarter. Aigen Investment Management LP now owns 90,745 shares of the basic materials company’s stock valued at $1,220,000 after purchasing an additional 48,679 shares during the last quarter. 64.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Alamos Gold Stock Performance

NYSE:AGI opened at $15.59 on Wednesday. Alamos Gold has a one year low of $10.78 and a one year high of $17.29. The business’s 50-day simple moving average is $15.91 and its 200 day simple moving average is $14.16. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. Alamos Gold had a return on equity of 7.38% and a net margin of 19.41%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts predict that Alamos Gold will post 0.7 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, June 13th. Alamos Gold’s dividend payout ratio is currently 19.23%.

Alamos Gold Company Profile

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.