Mackenzie Financial Corp Acquires 567,926 Shares of Alamos Gold Inc. $AGI

Mackenzie Financial Corp increased its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,547,541 shares of the basic materials company’s stock after purchasing an additional 567,926 shares during the period. Mackenzie Financial Corp owned approximately 2.27% of Alamos Gold worth $332,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Alamos Gold in the third quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its position in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after buying an additional 581 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Alamos Gold in the 2nd quarter valued at about $98,000. Employees Retirement System of Texas bought a new position in shares of Alamos Gold in the 2nd quarter valued at $112,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Alamos Gold by 528.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 3,757 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

Alamos Gold stock opened at $50.65 on Wednesday. Alamos Gold Inc. has a 12 month low of $23.33 and a 12 month high of $55.41. The business’s 50 day simple moving average is $44.06 and its 200 day simple moving average is $37.60. 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 has a market cap of $21.27 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 0.68 and a beta of 0.54.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 EPS 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 analysts’ expectations of $596.18 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. Alamos Gold’s revenue for the quarter was up 53.1% on a year-over-year basis. Sell-side analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend 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 payout ratio is currently 7.62%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Scotiabank increased their price objective on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research note on Sunday, December 7th. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.