Investors Buy Large Volume of Alamos Gold Call Options (NYSE:AGI)

Key Points

• Alamos Gold call-option activity surged: Traders purchased 33,902 call options, roughly 673% above the average volume of 4,385 contracts.
• Institutional investors increased their positions, with Andra AP fonden raising its stake by 139.8%; institutions and hedge funds collectively own 64.33% of AGI.
• Alamos Gold reported stronger quarterly results, posting $0.59 in adjusted earnings per share and $594.1 million in revenue, while analysts maintain a “Moderate Buy” consensus with a $47.50 target price.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI saw unusually large options trading on Monday. Stock traders purchased 33,902 call options on the stock. This is an increase of 673% compared to the average volume of 4,385 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AGI. Andra AP fonden lifted its holdings in shares of Alamos Gold by 139.8% during the second quarter. Andra AP fonden now owns 310,612 shares of the basic materials company's stock worth $9,424,000 after purchasing an additional 181,100 shares during the period. Tidal Investments LLC grew its stake in shares of Alamos Gold by 1.8% in the second quarter. Tidal Investments LLC now owns 59,014 shares of the basic materials company's stock worth $1,790,000 after purchasing an additional 1,067 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Alamos Gold by 50.7% in the second quarter. Engineers Gate Manager LP now owns 44,634 shares of the basic materials company's stock valued at $1,354,000 after purchasing an additional 15,017 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Alamos Gold in the second quarter valued at $192,000. Finally, Cypress Capital Management LLC WY raised its position in Alamos Gold by 5.0% during the 2nd quarter. Cypress Capital Management LLC WY now owns 29,685 shares of the basic materials company's stock worth $901,000 after purchasing an additional 1,415 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Alamos Gold Price Performance

Shares of NYSE:AGI traded down $1.66 during trading on Monday, hitting $32.84. 2,253,795 shares of the company were exchanged, compared to its average volume of 4,094,839. Alamos Gold has a 1-year low of $27.05 and a 1-year high of $55.41. The company has a market capitalization of $13.74 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $33.86 and its 200-day moving average is $37.54.

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

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. Alamos Gold's dividend payout ratio (DPR) is presently 5.78%.

Analyst Ratings Changes

A number of research analysts recently commented on AGI shares. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Jefferies Financial Group decreased their target price on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings cut shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 23rd. Finally, Bank of America dropped their target price on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Alamos Gold currently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

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 produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold's principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.

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