Alamos Gold (NYSE:AGI) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $36.48 and traded as low as $30.18. Alamos Gold shares last traded at $30.5580, with a volume of 4,228,843 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently commented on AGI. Jefferies Financial Group reduced their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 6th. Weiss Ratings upgraded shares of Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Alamos Gold in a report on Wednesday, September 16th. Bank of America decreased their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Stock Performance

The company has a market cap of $13.45 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.46 and a beta of 0.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The company has a fifty day moving average of $34.67 and a two-hundred day moving average of $36.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%. The firm had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts anticipate that Alamos Gold Inc. will post 2.11 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a dividend of $0.04 per share. The ex-dividend date 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%.

Institutional Investors Weigh In On Alamos Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Petra Financial Advisors Inc. boosted its position in Alamos Gold by 2.3% in the first quarter. Petra Financial Advisors Inc. now owns 23,153 shares of the basic materials company’s stock valued at $1,029,000 after buying an additional 518 shares during the last quarter. Parvin Asset Management LLC lifted its position in shares of Alamos Gold by 1.8% during the 1st quarter. Parvin Asset Management LLC now owns 35,390 shares of the basic materials company’s stock valued at $1,572,000 after buying an additional 625 shares in the last quarter. XML Financial LLC increased its stake in shares of Alamos Gold by 10.8% during the second quarter. XML Financial LLC now owns 7,200 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 700 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Alamos Gold by 16.5% during the 1st quarter. Kestra Advisory Services LLC now owns 5,143 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 728 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Alamos Gold in the 1st quarter worth about $35,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Company Profile

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.