Ninepoint Partners LP Invests $9.05 Million in Alamos Gold Inc. $AGI

Ninepoint Partners LP purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 298,466 shares of the basic materials company’s stock, valued at approximately $9,055,000. Alamos Gold makes up approximately 0.7% of Ninepoint Partners LP’s holdings, making the stock its 24th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in Alamos Gold during the 4th quarter valued at $25,000. Clearstead Advisors LLC lifted its holdings in shares of Alamos Gold by 62.7% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Parallel Advisors LLC bought a new stake in Alamos Gold during the 1st quarter worth approximately $35,000. Finally, Bayforest Capital Ltd bought a new stake in Alamos Gold during the 4th quarter worth approximately $44,000. 64.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AGI. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Royal Bank Of Canada decreased their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Bank of America lowered their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group reduced their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Trading Up 2.8%

Shares of AGI stock opened at $36.73 on Friday. The business has a 50-day moving average price of $31.49 and a two-hundred day moving average price of $39.41. Alamos Gold Inc. has a 12-month low of $26.50 and a 12-month high of $55.41. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The firm has a market cap of $15.37 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.47 and a beta of 0.56.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company’s revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. Equities analysts anticipate that Alamos Gold Inc. will post 2.18 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is presently 5.78%.

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.