Navellier & Associates Inc. Boosts Stock Holdings in Alamos Gold Inc. $AGI

Navellier & Associates Inc. raised its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,838 shares of the basic materials company’s stock after acquiring an additional 17,502 shares during the quarter. Navellier & Associates Inc.’s holdings in Alamos Gold were worth $9,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank grew its position in Alamos Gold by 26.8% in the 1st quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company’s stock valued at $62,782,000 after purchasing an additional 298,900 shares during the period. Vanguard Group Inc. raised its holdings in Alamos Gold by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock worth $678,291,000 after buying an additional 332,335 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Alamos Gold by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock worth $74,757,000 after buying an additional 141,000 shares during the last quarter. DJE Kapital AG lifted its stake in shares of Alamos Gold by 66.2% in the first quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company’s stock valued at $12,665,000 after buying an additional 118,006 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alamos Gold by 41.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock valued at $183,963,000 after buying an additional 1,216,977 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $36.78 on Friday. The company’s 50-day moving average is $31.62 and its 200 day moving average is $39.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $15.40 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.51 and a beta of 0.56. Alamos Gold Inc. has a fifty-two week low of $27.05 and a fifty-two week high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that Alamos Gold Inc. will post 2.12 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 10th. Alamos Gold’s payout ratio is 5.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AGI. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Royal Bank Of Canada lowered their target price on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Bank of America cut their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.