Alamos Gold Inc. $AGI Shares Acquired by Cannell & Spears LLC

Cannell & Spears LLC lifted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 512.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,276,296 shares of the basic materials company’s stock after purchasing an additional 1,067,883 shares during the period. Cannell & Spears LLC’s holdings in Alamos Gold were worth $44,492,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AGI. Vanguard Group Inc. lifted its position in shares of Alamos Gold by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after acquiring an additional 524,263 shares in the last quarter. Intact Investment Management Inc. grew its position in Alamos Gold by 3.8% during the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock worth $22,928,000 after purchasing an additional 24,330 shares in the last quarter. Caldwell Investment Management Ltd. grew its position in Alamos Gold by 143.5% during the 3rd quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock worth $5,818,000 after purchasing an additional 99,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Alamos Gold by 29.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock valued at $51,192,000 after purchasing an additional 336,200 shares during the period. Finally, Swiss National Bank raised its stake in Alamos Gold by 55.3% during the 2nd quarter. Swiss National Bank now owns 1,277,936 shares of the basic materials company’s stock valued at $33,860,000 after purchasing an additional 455,100 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Scotiabank raised their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Desjardins started coverage on Alamos Gold in a research note on Friday, November 28th. They set a “buy” rating on the stock. Finally, Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Two 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Trading Down 5.6%

NYSE:AGI opened at $45.81 on Friday. The stock’s 50 day moving average price is $44.62 and its 200 day moving average price is $37.94. Alamos Gold Inc. has a 52 week low of $23.49 and a 52 week high of $55.41. The company has a market capitalization of $19.23 billion, a P/E ratio of 21.81, a P/E/G ratio of 0.61 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm 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 revenue was up 53.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is 7.62%.

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.