Alamos Gold Inc. $AGI Shares Purchased by Korea Investment CORP

Korea Investment CORP grew its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 125.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 465,219 shares of the basic materials company’s stock after purchasing an additional 258,514 shares during the period. Korea Investment CORP’s holdings in Alamos Gold were worth $16,219,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First Trust Advisors LP boosted its position in Alamos Gold by 1.7% during the 3rd quarter. First Trust Advisors LP now owns 132,998 shares of the basic materials company’s stock worth $4,636,000 after purchasing an additional 2,250 shares during the period. Orion Porfolio Solutions LLC purchased a new position in Alamos Gold in the third quarter valued at about $205,000. 111 Capital purchased a new position in Alamos Gold in the third quarter valued at about $368,000. Harvest Portfolios Group Inc. lifted its stake in shares of Alamos Gold by 29.7% during the third quarter. Harvest Portfolios Group Inc. now owns 43,013 shares of the basic materials company’s stock worth $1,499,000 after purchasing an additional 9,839 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new position in shares of Alamos Gold during the third quarter worth about $10,632,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Down 1.0%

Shares of NYSE AGI opened at $50.65 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. Alamos Gold Inc. has a 1 year low of $23.33 and a 1 year high of $55.41. The stock’s 50-day simple moving average is $44.06 and its 200-day simple moving average is $37.60. The firm has a market cap of $21.27 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 0.68 and a beta of 0.54.

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

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.04 per share. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. Alamos Gold’s dividend payout ratio (DPR) is currently 7.62%.

Analyst Ratings Changes

AGI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Desjardins assumed coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a research report on Sunday, December 7th. Scotiabank lifted their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Finally, Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and an average target price of $45.50.

About Alamos Gold

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.