Alamos Gold (NYSE:AGI) Trading Down 4.2% - Here's What Happened

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI's share price fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $27.14 and last traded at $26.55. 449,674 shares were traded during trading, a decline of 84% from the average session volume of 2,882,747 shares. The stock had previously closed at $27.72.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AGI. Stifel Nicolaus began coverage on shares of Alamos Gold in a research note on Wednesday. They set a "buy" rating on the stock. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Bank of America dropped their target price on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, National Bank Financial raised shares of Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Price Performance

The company's fifty day moving average price is $26.30 and its 200 day moving average price is $24.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 0.53 and a beta of 0.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The business had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. During the same period last year, the firm posted $0.13 earnings per share. The company's quarterly revenue was up 20.0% on a year-over-year basis. Equities research analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, June 12th. Alamos Gold's dividend payout ratio (DPR) is presently 16.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AGI. Dimensional Fund Advisors LP boosted its holdings in shares of Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock valued at $136,011,000 after buying an additional 5,516,186 shares during the period. Norges Bank acquired a new position in Alamos Gold during the 4th quarter valued at about $100,694,000. Raymond James Financial Inc. acquired a new position in Alamos Gold during the 4th quarter valued at about $28,950,000. Arrowstreet Capital Limited Partnership boosted its stake in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company's stock valued at $173,991,000 after purchasing an additional 1,424,550 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Alamos Gold during the 1st quarter valued at about $37,738,000. 64.33% of the stock is owned by institutional investors and hedge funds.

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.