Intech Investment Management LLC Makes New Investment in Alamos Gold Inc. $AGI

Intech Investment Management LLC purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 14,833 shares of the basic materials company’s stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGI. Pinnacle Wealth Management Group Inc. boosted its stake in Alamos Gold by 0.5% during the third quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock valued at $2,514,000 after buying an additional 390 shares in the last quarter. Williamson Legacy Group LLC raised its position in Alamos Gold by 0.7% in the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock worth $1,520,000 after acquiring an additional 400 shares in the last quarter. StoneX Group Inc. lifted its holdings in Alamos Gold by 1.8% in the 2nd quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock valued at $693,000 after acquiring an additional 455 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Alamos Gold by 0.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock valued at $6,881,000 after purchasing an additional 543 shares in the last quarter. Finally, VELA Investment Management LLC boosted its position in shares of Alamos Gold by 0.4% during the 3rd quarter. VELA Investment Management LLC now owns 152,985 shares of the basic materials company’s stock valued at $5,333,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

Shares of AGI opened at $49.42 on Thursday. The company has a 50-day moving average of $44.27 and a two-hundred day moving average of $37.68. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 0.68 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. Alamos Gold Inc. has a one year low of $23.49 and a one year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The business had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 53.1% compared to the same quarter last year. On average, equities research analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current 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 issued a $0.04 dividend. The ex-dividend date is Thursday, March 12th. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. Alamos Gold’s dividend payout ratio is currently 4.76%.

Analyst Upgrades and Downgrades

AGI has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Jefferies Financial Group restated a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Desjardins initiated coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Finally, Scotiabank raised their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 6th. Two equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $45.50.

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.