Sheets Smith Investment Management Buys Shares of 47,215 Alamos Gold Inc. $AGI

Sheets Smith Investment Management bought a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 47,215 shares of the basic materials company’s stock, valued at approximately $1,646,000.

Several other institutional investors have also made changes to their positions in the company. Addenda Capital Inc. raised its position in Alamos Gold by 12.3% during the second quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after acquiring an additional 212,918 shares in the last quarter. Calamos Wealth Management LLC acquired a new position in shares of Alamos Gold during the 2nd quarter worth $3,070,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Alamos Gold during the 2nd quarter worth $1,502,000. PCJ Investment Counsel Ltd. raised its holdings in shares of Alamos Gold by 37.9% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after purchasing an additional 23,560 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alamos Gold by 20.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 2,493 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AGI. Bank of America increased their target price on shares of Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Jefferies Financial Group restated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $43.00.

Alamos Gold Trading Up 0.3%

Alamos Gold stock opened at $37.74 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72. The business’s 50-day simple moving average is $34.23 and its 200-day simple moving average is $30.55. The firm has a market capitalization of $15.85 billion, a PE ratio of 29.49, a PEG ratio of 0.53 and a beta of 0.63. Alamos Gold Inc. has a 52 week low of $17.80 and a 52 week high of $39.44.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $462.30 million during the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities research analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

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

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.