Alamos Gold Inc. (NYSE:AGI) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,011,874 shares of the basic materials company’s stock after buying an additional 258,688 shares during the period. Mackenzie Financial Corp owned about 0.76% of Alamos Gold worth $40,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 1.4% during the third quarter. Vanguard Group Inc. now owns 14,202,762 shares of the basic materials company’s stock valued at $160,349,000 after purchasing an additional 202,396 shares during the period. Renaissance Technologies LLC raised its stake in shares of Alamos Gold by 6.7% during the first quarter. Renaissance Technologies LLC now owns 9,177,531 shares of the basic materials company’s stock valued at $77,275,000 after purchasing an additional 579,511 shares during the period. FMR LLC raised its stake in shares of Alamos Gold by 24.3% during the second quarter. FMR LLC now owns 4,411,128 shares of the basic materials company’s stock valued at $30,945,000 after purchasing an additional 863,013 shares during the period. Norges Bank purchased a new stake in shares of Alamos Gold during the fourth quarter valued at approximately $41,367,000. Finally, Invesco Ltd. raised its stake in shares of Alamos Gold by 4.9% during the third quarter. Invesco Ltd. now owns 3,764,554 shares of the basic materials company’s stock valued at $42,502,000 after purchasing an additional 175,117 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AGI. StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group began coverage on shares of Alamos Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price target for the company. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. Royal Bank of Canada upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $12.00 to $16.00 in a research note on Thursday, January 11th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.95.

Alamos Gold Stock Performance

Shares of AGI opened at $14.89 on Wednesday. Alamos Gold Inc. has a 1 year low of $10.78 and a 1 year high of $16.01. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 3.75 and a beta of 1.15. The firm has a fifty day moving average of $13.27 and a 200-day moving average of $13.06.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. The company had revenue of $254.60 million during the quarter, compared to the consensus estimate of $257.47 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Alamos Gold Inc. will post 0.66 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s payout ratio is currently 18.87%.

Alamos Gold Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.