Mackenzie Financial Corp Acquires 258,688 Shares of Alamos Gold Inc. (NYSE:AGI)

Mackenzie Financial Corp grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,011,874 shares of the basic materials company’s stock after acquiring an additional 258,688 shares during the quarter. Mackenzie Financial Corp’s holdings in Alamos Gold were worth $40,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Anchor Investment Management LLC bought a new position in Alamos Gold in the fourth quarter worth $27,000. Tower Research Capital LLC TRC lifted its position in Alamos Gold by 230.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,948 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 2,752 shares during the period. Engineers Gate Manager LP bought a new position in Alamos Gold in the third quarter worth $81,000. Brown Brothers Harriman & Co. lifted its position in Alamos Gold by 58.8% in the first quarter. Brown Brothers Harriman & Co. now owns 9,901 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 3,665 shares during the period. Finally, IFP Advisors Inc bought a new position in Alamos Gold in the second quarter worth $84,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Stock Down 0.7 %

Shares of AGI stock opened at $14.89 on Wednesday. The stock has a 50-day moving average price of $13.27 and a 200 day moving average price of $13.06. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 3.75 and a beta of 1.15. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $16.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $254.60 million during the quarter, compared to analyst estimates of $257.47 million. Alamos Gold had a return on equity of 7.30% and a net margin of 20.52%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Sell-side analysts predict that Alamos Gold Inc. will post 0.66 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Wednesday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Ratings Changes

AGI has been the subject of several research reports. Royal Bank of Canada raised Alamos Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $16.00 in a research report on Thursday, January 11th. Jefferies Financial Group began coverage on Alamos Gold in a report on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective for the company. StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday. Bank of America raised Alamos Gold from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.75 to $27.25 in a report on Tuesday, April 9th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Alamos Gold Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.