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

Tuesday, April 13, 2021 | MarketBeat

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw some unusual options trading on Tuesday. Traders purchased 7,959 call options on the company. This represents an increase of 250% compared to the average volume of 2,274 call options.

NYSE:AGI traded up $0.37 during mid-day trading on Tuesday, reaching $8.42. 178,370 shares of the stock were exchanged, compared to its average volume of 3,161,408. The business has a fifty day moving average price of $7.87 and a 200 day moving average price of $8.46. The firm has a market capitalization of $3.31 billion, a PE ratio of 29.81, a PEG ratio of 0.61 and a beta of 0.97. Alamos Gold has a 1-year low of $5.97 and a 1-year high of $11.58.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Tuesday, February 23rd. The basic materials company reported $0.15 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.13 by $0.02. The firm had revenue of $226.60 million for the quarter, compared to analysts' expectations of $221.67 million. Alamos Gold had a return on equity of 4.74% and a net margin of 14.88%. As a group, research analysts expect that Alamos Gold will post 0.41 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th were paid a $0.025 dividend. The ex-dividend date was Tuesday, March 16th. This represents a yield of 1.26%. Alamos Gold's dividend payout ratio is currently 40.00%.

A number of equities research analysts have issued reports on AGI shares. JPMorgan Chase & Co. started coverage on Alamos Gold in a research note on Wednesday, February 10th. They issued a "neutral" rating on the stock. CIBC cut their target price on Alamos Gold from $19.25 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, February 8th. Zacks Investment Research cut shares of Alamos Gold from a "hold" rating to a "strong sell" rating in a research note on Friday. Finally, National Bank Financial restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. The stock currently has an average rating of "Hold" and an average price target of $13.98.

Institutional investors and hedge funds have recently modified their holdings of the stock. U S Global Investors Inc. purchased a new position in Alamos Gold in the 4th quarter worth about $3,069,000. PCJ Investment Counsel Ltd. grew its stake in Alamos Gold by 66.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 244,910 shares of the basic materials company's stock valued at $2,139,000 after acquiring an additional 98,170 shares in the last quarter. Bennicas & Associates Inc. purchased a new position in Alamos Gold during the 4th quarter valued at about $364,000. ExodusPoint Capital Management LP grew its stake in Alamos Gold by 126.6% during the 3rd quarter. ExodusPoint Capital Management LP now owns 109,071 shares of the basic materials company's stock valued at $961,000 after acquiring an additional 60,940 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Alamos Gold by 6.3% during the 3rd quarter. Sei Investments Co. now owns 543,205 shares of the basic materials company's stock valued at $4,786,000 after acquiring an additional 32,043 shares in the last quarter. 55.74% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold in North America, Canada, and Mexico. It also explores for silver and precious metals. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 5,587 ha located in Northern Ontario, Canada.

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