Alamos Gold Inc. $AGI Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. grew its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 17.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,683,814 shares of the basic materials company’s stock after acquiring an additional 254,992 shares during the period. Jupiter Asset Management Ltd.’s holdings in Alamos Gold were worth $58,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pekin Hardy Strauss Inc. raised its holdings in Alamos Gold by 1.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 263,844 shares of the basic materials company’s stock worth $9,200,000 after purchasing an additional 3,747 shares during the period. Fiera Capital Corp lifted its holdings in Alamos Gold by 3.3% during the third quarter. Fiera Capital Corp now owns 514,337 shares of the basic materials company’s stock valued at $17,922,000 after purchasing an additional 16,358 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Alamos Gold by 3,562.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 135,500 shares of the basic materials company’s stock valued at $4,724,000 after purchasing an additional 131,800 shares during the period. Vanguard Group Inc. increased its stake in shares of Alamos Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock worth $600,712,000 after purchasing an additional 524,263 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in shares of Alamos Gold during the 3rd quarter worth about $1,095,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AGI shares. Scotiabank lifted their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Desjardins started coverage on Alamos Gold in a report on Friday, November 28th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. 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. Finally, TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Up 4.8%

Shares of NYSE:AGI opened at $45.86 on Friday. Alamos Gold Inc. has a 52-week low of $22.03 and a 52-week high of $46.66. The stock has a market cap of $19.26 billion, a P/E ratio of 21.84, a PEG ratio of 0.41 and a beta of 0.61. The business has a fifty day moving average of $40.90 and a two-hundred day moving average of $35.20. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a return on equity of 15.46% and a net margin of 48.97%.The company’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. On average, research analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The company also recently announced 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 annualized dividend 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 dividend payout ratio (DPR) is presently 7.81%.

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.