Swiss National Bank Reduces Position in Alamos Gold Inc. $AGI

Swiss National Bank trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,210,336 shares of the basic materials company’s stock after selling 67,600 shares during the period. Swiss National Bank owned 0.29% of Alamos Gold worth $42,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AGI. Vanguard Group Inc. grew its stake in Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after purchasing an additional 524,263 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Alamos Gold by 29.3% in the second 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 last quarter. Mackenzie Financial Corp raised its stake in shares of 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 worth $238,990,000 after purchasing an additional 2,192,593 shares during the last quarter. Norges Bank acquired a new stake in shares of Alamos Gold during the second quarter worth about $144,808,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Alamos Gold by 639.2% during the second 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. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AGI shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Scotiabank lifted their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Desjardins started coverage on shares of Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a research note on Sunday, December 7th. Finally, Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Price Performance

NYSE:AGI opened at $48.49 on Friday. Alamos Gold Inc. has a 52 week low of $23.49 and a 52 week high of $55.41. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $20.36 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55. The stock’s 50-day moving average price is $44.47 and its 200-day moving average price is $37.76.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly 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 company had revenue of $575.30 million during the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.Alamos Gold’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, equities analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders 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 dividend yield of 0.3%. This is a boost 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%.

About Alamos Gold

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.