Invesco Ltd. Buys 134,816 Shares of Alamos Gold Inc. $AGI

Invesco Ltd. boosted its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,416,439 shares of the basic materials company’s stock after acquiring an additional 134,816 shares during the quarter. Invesco Ltd.’s holdings in Alamos Gold were worth $64,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alamos Gold by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,210,671 shares of the basic materials company’s stock worth $433,133,000 after purchasing an additional 214,933 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Alamos Gold by 32.3% during the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock worth $238,990,000 after buying an additional 2,192,593 shares during the period. Norges Bank bought a new position in shares of Alamos Gold during the second quarter worth about $144,808,000. Geode Capital Management LLC raised its position in Alamos Gold by 639.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after buying an additional 2,923,478 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Alamos Gold by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,769,539 shares of the basic materials company’s stock valued at $74,029,000 after acquiring an additional 129,334 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Stock Up 2.0%

Alamos Gold stock opened at $37.32 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33. The company’s 50-day moving average is $33.76 and its 200-day moving average is $30.08. The firm has a market capitalization of $15.70 billion, a PE ratio of 29.15, a P/E/G ratio of 0.52 and a beta of 0.63. Alamos Gold Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $38.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. Alamos Gold’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. Sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, December 4th. Alamos Gold’s payout ratio is currently 7.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AGI. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a research note on Sunday. Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $43.00.

Alamos Gold Company 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.