Concurrent Investment Advisors LLC Invests $660,000 in Alamos Gold Inc. $AGI

Concurrent Investment Advisors LLC bought a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the fourth quarter, HoldingsChannel.com reports. The fund bought 17,114 shares of the basic materials company’s stock, valued at approximately $660,000.

A number of other institutional investors have also recently modified their holdings of the stock. Kercheville Advisors LLC grew its stake in shares of Alamos Gold by 2.5% in the fourth quarter. Kercheville Advisors LLC now owns 85,301 shares of the basic materials company’s stock worth $3,596,000 after acquiring an additional 2,050 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of Alamos Gold by 0.6% in the fourth quarter. Calamos Wealth Management LLC now owns 75,066 shares of the basic materials company’s stock worth $2,896,000 after acquiring an additional 431 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of Alamos Gold by 1.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 46,810 shares of the basic materials company’s stock worth $1,806,000 after acquiring an additional 640 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in shares of Alamos Gold by 2.9% in the fourth quarter. Legacy Capital Group California Inc. now owns 11,936 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 337 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Alamos Gold in the fourth quarter worth $205,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Down 1.3%

AGI stock opened at $39.42 on Friday. Alamos Gold Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $55.41. The business’s 50-day moving average is $46.45 and its two-hundred day moving average is $40.72. 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 company has a market cap of $16.55 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 0.54 and a beta of 0.50.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Alamos Gold had a return on equity of 18.61% and a net margin of 51.24%.The company had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. Alamos Gold’s revenue was up 79.2% on a year-over-year basis. As a group, analysts forecast that Alamos Gold Inc. will post 2.45 earnings per share for the current year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were issued a $0.04 dividend. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, March 12th. Alamos Gold’s dividend payout ratio is currently 6.37%.

Analysts Set New Price Targets

A number of research firms have recently commented on AGI. Weiss Ratings cut Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Scotiabank upped their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Finally, Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $50.67.

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.