Alamos Gold Inc. (NYSE:AGI) Short Interest Up 103.6% in September

Key Points

• Alamos Gold Inc. experienced a significant increase in short interest of 103.6% in September, with a total of 14,070,000 shares shorted by the end of the month.
• Institutional investors now own approximately 64.33% of Alamos Gold's stock, with several funds boosting their holdings significantly during the third quarter.
• Equities analysts maintain an average rating of "Buy" for Alamos Gold, with a consensus price target of $35.33.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 14,070,000 shares, an increase of 103.6% from the September 15th total of 6,910,000 shares. Approximately 3.4% of the company's stock are sold short. Based on an average trading volume of 3,760,000 shares, the short-interest ratio is currently 3.7 days. Based on an average trading volume of 3,760,000 shares, the short-interest ratio is currently 3.7 days. Approximately 3.4% of the company's stock are sold short.

Hedge Funds Weigh In On Alamos Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Alamos Gold by 3,168.4% in the third quarter. Blue Trust Inc. now owns 14,283 shares of the basic materials company's stock worth $498,000 after purchasing an additional 13,846 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in shares of Alamos Gold during the third quarter worth $692,000. CWM LLC raised its position in shares of Alamos Gold by 37.7% during the third quarter. CWM LLC now owns 9,798 shares of the basic materials company's stock worth $342,000 after acquiring an additional 2,683 shares during the last quarter. Canoe Financial LP raised its position in shares of Alamos Gold by 9.2% during the third quarter. Canoe Financial LP now owns 240,500 shares of the basic materials company's stock worth $8,381,000 after acquiring an additional 20,278 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of Alamos Gold during the third quarter worth $244,000. Institutional investors and hedge funds own 64.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alamos Gold in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Bank of America raised their price objective on shares of Alamos Gold from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday. Zacks Research raised shares of Alamos Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $35.33.

Alamos Gold Stock Performance

Shares of NYSE AGI opened at $34.53 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $31.60 and its two-hundred day moving average is $28.30. The company has a market cap of $14.52 billion, a P/E ratio of 41.60, a P/E/G ratio of 0.55 and a beta of 0.50. Alamos Gold has a 12 month low of $17.42 and a 12 month high of $37.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. During the same quarter last year, the firm earned $0.24 EPS. Alamos Gold's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities analysts expect that Alamos Gold will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold's payout ratio is currently 12.05%.

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.

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