Alamos Gold (NYSE:AGI) Share Price Breaks Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Alamos Gold shares fell below their 200-day moving average of $36.48, reaching as low as $30.18 before last trading at $30.5580 on elevated volume.
• Analyst sentiment remains broadly positive despite the technical decline: eight analysts rate the stock Buy and one Sell, producing a “Moderate Buy” consensus and an average price target of $47.50.
• The company reported quarterly earnings of $0.59 per share, exceeding estimates, while revenue rose 35.6% year over year; it also pays a quarterly dividend of $0.04 per share, yielding about 0.5%.

Alamos Gold Inc. (NYSE:AGI - Get Free Report) TSE: AGI shares 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 trading hands.

Wall Street Analyst Weigh In

AGI has been the subject of a number of research reports. Zacks Research cut Alamos Gold from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Weiss Ratings raised Alamos Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 14th. Wall Street Zen cut Alamos Gold from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price objective on shares of Alamos Gold in a research report on Wednesday, September 16th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Price Performance

The company's fifty day moving average is $34.66 and its 200 day moving average is $36.48. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.48 and a beta of 0.59. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04.

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

Alamos Gold Dividend Announcement

The firm also recently disclosed 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 was Thursday, September 10th. Alamos Gold's dividend payout ratio is currently 5.78%.

Hedge Funds Weigh In On Alamos Gold

Several hedge funds have recently modified their holdings of AGI. Parallel Advisors LLC acquired a new position in shares of Alamos Gold in the first quarter valued at $35,000. Mather Group LLC. bought a new position in shares of Alamos Gold in the third quarter valued at about $29,000. Versant Capital Management Inc raised its position in shares of Alamos Gold by 258.0% in the third quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 885 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Alamos Gold during the 1st quarter worth about $59,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Alamos Gold by 146.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,900 shares of the basic materials company's stock worth $62,000 after buying an additional 1,130 shares during the last quarter. 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.

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