Montrusco Bolton Investments Inc. Increases Stock Position in Alamos Gold Inc. $AGI

Montrusco Bolton Investments Inc. boosted its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 36.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 547,567 shares of the basic materials company’s stock after acquiring an additional 145,843 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Alamos Gold were worth $19,090,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Alamos Gold in the 2nd quarter valued at approximately $144,808,000. Geode Capital Management LLC grew its stake in Alamos Gold by 639.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock worth $91,379,000 after acquiring an additional 2,923,478 shares in the last quarter. CIBC Asset Management Inc grew its stake in Alamos Gold by 29.3% in the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock worth $296,623,000 after purchasing an additional 2,521,347 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Alamos Gold by 32.3% during the second quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after buying an additional 2,192,593 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the period. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

NYSE:AGI opened at $50.00 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. The stock has a market capitalization of $20.99 billion, a PE ratio of 23.81, a P/E/G ratio of 0.49 and a beta of 0.61. Alamos Gold Inc. has a fifty-two week low of $22.03 and a fifty-two week high of $51.00. The company has a fifty day moving average of $41.84 and a two-hundred day moving average of $35.91.

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

Alamos Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.04 dividend. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s dividend payout ratio is presently 4.76%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AGI. Wall Street Zen raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Scotiabank lifted their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 6th. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $45.50.

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.