Ninepoint Partners LP Invests $9.05 Million in Alamos Gold Inc. $AGI

Ninepoint Partners LP purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 298,466 shares of the basic materials company’s stock, valued at approximately $9,055,000. Alamos Gold makes up 0.7% of Ninepoint Partners LP’s investment portfolio, making the stock its 24th biggest position. Ninepoint Partners LP owned 0.07% of Alamos Gold as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AGI. Atlantic Union Bankshares Corp bought a new stake in shares of Alamos Gold during the fourth quarter worth about $25,000. Clearstead Advisors LLC increased its holdings in Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Alamos Gold in the first quarter worth approximately $35,000. Finally, Bayforest Capital Ltd bought a new position in shares of Alamos Gold in the fourth quarter valued at approximately $44,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Trading Up 2.8%

NYSE AGI opened at $36.73 on Friday. The business’s fifty day moving average is $31.49 and its 200-day moving average is $39.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.47 and a beta of 0.56. Alamos Gold Inc. has a one year low of $26.50 and a one year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts predict that Alamos Gold Inc. will post 2.18 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is currently 5.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AGI shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Bank of America dropped their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reduced their target price on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group cut their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

About Alamos Gold

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.