Alamos Gold Inc. $AGI Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. raised its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 29.7% in the third quarter, HoldingsChannel reports. The fund owned 43,013 shares of the basic materials company’s stock after purchasing an additional 9,839 shares during the period. Harvest Portfolios Group Inc.’s holdings in Alamos Gold were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alamos Gold Trading Up 3.5%

Shares of AGI opened at $54.27 on Friday. Alamos Gold Inc. has a 52-week low of $22.03 and a 52-week high of $54.37. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $42.45 and its two-hundred day moving average is $36.30. The stock has a market cap of $22.79 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 0.52 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $575.30 million during the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Research analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is currently 4.76%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AGI. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research report on Sunday, December 7th. Desjardins started coverage on Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Wall Street Zen lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Scotiabank lifted their price target on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.