Alamos Gold Inc. $AGI Shares Acquired by PVG Asset Management Corp

PVG Asset Management Corp increased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 746.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,244 shares of the basic materials company’s stock after buying an additional 39,901 shares during the period. Alamos Gold comprises about 1.4% of PVG Asset Management Corp’s portfolio, making the stock its 23rd biggest position. PVG Asset Management Corp’s holdings in Alamos Gold were worth $2,010,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Alamos Gold by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock worth $678,291,000 after acquiring an additional 332,335 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Alamos Gold by 11.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock valued at $351,072,000 after purchasing an additional 964,317 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Alamos Gold by 6.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company’s stock worth $338,372,000 after purchasing an additional 514,819 shares during the last quarter. Norges Bank acquired a new position in shares of Alamos Gold during the fourth quarter worth $219,475,000. Finally, Renaissance Technologies LLC grew its stake in shares of Alamos Gold by 1.8% during the first quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock worth $227,400,000 after purchasing an additional 92,227 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AGI. Jefferies Financial Group cut their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday. Bank of America cut their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Price Performance

Shares of AGI opened at $27.83 on Monday. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The stock has a market cap of $11.65 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a fifty day moving average price of $32.84 and a 200 day moving average price of $40.27.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. During the same quarter last year, the company posted $0.34 earnings per share. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Alamos Gold’s dividend payout ratio is 5.78%.

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.