Vanguard Group Inc. Buys 524,263 Shares of Alamos Gold Inc. $AGI

Vanguard Group Inc. lifted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,233,606 shares of the basic materials company’s stock after purchasing an additional 524,263 shares during the period. Vanguard Group Inc. owned approximately 4.10% of Alamos Gold worth $600,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AGI. 1620 Investment Advisors Inc. bought a new position in Alamos Gold in the third quarter valued at about $35,000. Bessemer Group Inc. acquired a new stake in shares of Alamos Gold during the 2nd quarter worth approximately $90,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Alamos Gold in the second quarter valued at approximately $98,000. Employees Retirement System of Texas acquired a new stake in Alamos Gold during the 2nd quarter worth $112,000. Finally, Farther Finance Advisors LLC raised its position in shares of Alamos Gold by 528.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 3,757 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AGI shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a research note on Sunday, December 7th. Scotiabank upped their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Finally, Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

Alamos Gold Stock Up 1.8%

Shares of AGI stock opened at $50.58 on Wednesday. Alamos Gold Inc. has a 12-month low of $22.03 and a 12-month high of $50.86. 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 has a fifty day moving average of $41.60 and a 200-day moving average of $35.82. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 0.47 and a beta of 0.61.

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

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors 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 is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s dividend payout ratio is presently 4.76%.

Alamos Gold Company 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.