Alamos Gold Target of Unusually High Options Trading (NYSE:AGI)

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) saw some unusual options trading on Wednesday. Investors bought 13,078 call options on the company. This represents an increase of approximately 285% compared to the typical volume of 3,394 call options.

Alamos Gold Stock Up 2.1 %

Shares of Alamos Gold stock traded up $0.50 during midday trading on Wednesday, hitting $24.45. The company’s stock had a trading volume of 1,343,089 shares, compared to its average volume of 2,281,314. The firm has a market capitalization of $10.28 billion, a P/E ratio of 35.40, a PEG ratio of 0.40 and a beta of 1.15. Alamos Gold has a 1-year low of $13.06 and a 1-year high of $24.59. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $21.41 and a 200-day simple moving average of $20.11.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The business had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. As a group, sell-side analysts expect that Alamos Gold will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 14.49%.

Institutional Investors Weigh In On Alamos Gold

Several large investors have recently made changes to their positions in AGI. Old West Investment Management LLC increased its stake in shares of Alamos Gold by 11.0% during the 3rd quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock worth $9,689,000 after purchasing an additional 48,128 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Alamos Gold by 3.7% in the third quarter. Principal Financial Group Inc. now owns 1,737,200 shares of the basic materials company’s stock worth $34,655,000 after purchasing an additional 61,700 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Alamos Gold during the third quarter worth $258,000. Plato Investment Management Ltd bought a new position in Alamos Gold during the third quarter valued at about $147,000. Finally, CIBC Asset Management Inc lifted its position in shares of Alamos Gold by 79.3% in the third quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company’s stock worth $97,336,000 after buying an additional 2,149,915 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGI. Royal Bank of Canada lifted their target price on Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.06.

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.