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

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 6,515 call options on the company. This represents an increase of approximately 147% compared to the typical volume of 2,638 call options.

Alamos Gold Price Performance

Shares of AGI stock traded up $0.08 on Tuesday, hitting $15.38. 310,162 shares of the stock traded hands, compared to its average volume of 2,446,194. The company’s fifty day moving average is $15.78 and its 200 day moving average is $14.03. Alamos Gold has a 1-year low of $10.78 and a 1-year high of $17.29. The company has a market capitalization of $6.13 billion, a PE ratio of 29.69, a PEG ratio of 0.70 and a beta of 1.23.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. The company had revenue of $277.60 million for the quarter, compared to analysts’ expectations of $271.15 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Alamos Gold will post 0.69 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a $0.025 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.65%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Hedge Funds Weigh In On Alamos Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Alamos Gold by 14.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,596 shares during the period. Invesco Ltd. boosted its stake in Alamos Gold by 4.9% during the 3rd quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock valued at $42,502,000 after purchasing an additional 175,117 shares during the period. Mirabella Financial Services LLP bought a new position in Alamos Gold in the 3rd quarter worth about $461,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Alamos Gold by 3.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 29,830 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 1,109 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Alamos Gold by 103.0% during the third quarter. Trexquant Investment LP now owns 330,687 shares of the basic materials company’s stock valued at $3,733,000 after buying an additional 167,794 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the subject of a number of recent analyst reports. Bank of America raised shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. Royal Bank of Canada boosted their price target on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Finally, Jefferies Financial Group raised their price target on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.15.

About Alamos Gold

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.