Vanguard Group Inc. Acquires 524,263 Shares of Alamos Gold Inc. $AGI

Vanguard Group Inc. raised its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,233,606 shares of the basic materials company’s stock after purchasing an additional 524,263 shares during the period. Vanguard Group Inc.’s holdings in Alamos Gold were worth $600,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Alamos Gold during the second quarter worth about $144,808,000. Geode Capital Management LLC grew its position in Alamos Gold by 639.2% in the second quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Alamos Gold by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after purchasing an additional 2,521,347 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alamos Gold by 32.3% during the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after purchasing an additional 2,192,593 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AGI. Wall Street Zen upgraded shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Desjardins started coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Finally, Scotiabank increased their target price on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Performance

Shares of AGI opened at $50.58 on Wednesday. Alamos Gold Inc. has a 12 month low of $22.03 and a 12 month high of $50.86. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $41.60 and its two-hundred day simple moving average is $35.82. The stock has a market capitalization of $21.24 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The company’s revenue was up 53.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.04 dividend. The ex-dividend date is Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s dividend payout ratio is 4.76%.

Alamos Gold 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.