Alamos Gold Inc. $AGI Shares Purchased by Rathbones Group PLC

Rathbones Group PLC raised its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 145.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 44,529 shares of the basic materials company’s stock after buying an additional 26,389 shares during the quarter. Rathbones Group PLC’s holdings in Alamos Gold were worth $1,552,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alamos Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock worth $600,712,000 after acquiring an additional 524,263 shares during the last quarter. CIBC Asset Management Inc lifted its position in Alamos Gold by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after purchasing an additional 2,521,347 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Alamos Gold by 32.3% during the 2nd 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. Norges Bank bought a new position in Alamos Gold in the 2nd quarter worth about $144,808,000. Finally, Geode Capital Management LLC grew its position 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 purchasing an additional 2,923,478 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $51.24 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $43.83 and its two-hundred day moving average price is $37.45. Alamos Gold Inc. has a 52 week low of $22.77 and a 52 week high of $55.41. The stock has a market cap of $21.51 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 0.67 and a beta of 0.54.

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

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.3%. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 4.76%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGI. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Desjardins started coverage on Alamos Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research report on Sunday, December 7th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

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.