Sheets Smith Wealth Management Makes New Investment in Alamos Gold Inc. $AGI

Sheets Smith Wealth Management acquired a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,840 shares of the basic materials company’s stock, valued at approximately $692,000.

Other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in Alamos Gold in the second quarter valued at approximately $30,000. Banque Transatlantique SA acquired a new stake in shares of Alamos Gold in the first quarter worth $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alamos Gold in the 3rd quarter valued at $35,000. Bessemer Group Inc. acquired a new position in shares of Alamos Gold during the 2nd quarter valued at $90,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Alamos Gold during the 2nd quarter worth $98,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AGI shares. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, September 16th. Wall Street Zen raised Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a report on Thursday, October 23rd. Finally, Bank of America lifted their price objective on shares of Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.00.

Alamos Gold Trading Up 1.1%

Shares of AGI opened at $40.78 on Friday. Alamos Gold Inc. has a one year low of $17.80 and a one year high of $40.98. The stock has a 50-day moving average price of $34.85 and a 200 day moving average price of $31.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The company has a market capitalization of $17.12 billion, a P/E ratio of 31.86, a P/E/G ratio of 0.57 and a beta of 0.63.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The company had revenue of $462.30 million for the quarter, compared to analyst estimates of $490.96 million. During the same period in the prior year, the company posted $0.19 EPS. Alamos Gold’s quarterly revenue was up 28.1% on a year-over-year basis. Sell-side analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) is currently 7.81%.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.