Ninepoint Partners LP Buys Shares of 305,000 Alamos Gold Inc. $AGI

Ninepoint Partners LP purchased a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 305,000 shares of the basic materials company’s stock, valued at approximately $10,632,000. Alamos Gold comprises approximately 1.4% of Ninepoint Partners LP’s investment portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Alamos Gold during the second quarter worth about $144,808,000. Geode Capital Management LLC boosted its position in shares of Alamos Gold by 639.2% during 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 purchasing an additional 2,923,478 shares during the period. CIBC Asset Management Inc boosted its position in shares of Alamos Gold by 29.3% during the 2nd 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 during the period. Mackenzie Financial Corp raised its position in Alamos Gold by 32.3% in 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 purchasing an additional 2,192,593 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Alamos Gold by 105.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after purchasing an additional 1,227,695 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AGI shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Scotiabank boosted their price target 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. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Finally, TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Two equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Stock Performance

Shares of AGI opened at $54.27 on Friday. Alamos Gold Inc. has a 1 year low of $22.03 and a 1 year high of $54.37. The stock has a market capitalization of $22.79 billion, a PE ratio of 25.84, a PEG ratio of 0.50 and a beta of 0.61. 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 50-day simple moving average of $42.45 and a 200-day simple moving average of $36.23.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released 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. The firm had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

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

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.