Vanguard Group Inc. Purchases 332,335 Shares of Alamos Gold Inc. $AGI

Vanguard Group Inc. grew its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 17,565,941 shares of the basic materials company’s stock after acquiring an additional 332,335 shares during the quarter. Vanguard Group Inc.’s holdings in Alamos Gold were worth $678,291,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Intact Investment Management Inc. lifted its stake in shares of Alamos Gold by 3.8% in the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock valued at $22,928,000 after acquiring an additional 24,330 shares during the last quarter. Caldwell Investment Management Ltd. lifted its stake in shares of Alamos Gold by 143.5% in the 3rd quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock valued at $5,818,000 after acquiring an additional 99,000 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Alamos Gold by 2,652.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 55,411 shares of the basic materials company’s stock valued at $1,932,000 after acquiring an additional 53,398 shares during the last quarter. Cannell & Spears LLC lifted its stake in shares of Alamos Gold by 512.4% in the 3rd quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company’s stock valued at $44,492,000 after acquiring an additional 1,067,883 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of Alamos Gold by 35.5% in the 3rd quarter. Alps Advisors Inc. now owns 92,436 shares of the basic materials company’s stock valued at $3,222,000 after acquiring an additional 24,223 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGI. Scotiabank increased their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Weiss Ratings cut Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and an average target price of $50.67.

Alamos Gold Stock Down 0.0%

Shares of NYSE:AGI opened at $39.42 on Monday. The firm has a market cap of $16.55 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.51 and a beta of 0.50. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 12-month low of $23.75 and a 12-month high of $55.41. The business has a fifty day simple moving average of $46.45 and a 200 day simple moving average of $40.76.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $596.70 million during the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a return on equity of 18.61% and a net margin of 51.24%.Alamos Gold’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. Analysts predict that Alamos Gold Inc. will post 2.45 earnings per share for the current year.

Alamos Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.4%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio is 6.37%.

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.