Addenda Capital Inc. Takes $34.87 Million Position in Alamos Gold Inc. (NYSE:AGI)

Addenda Capital Inc. bought a new position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,890,930 shares of the basic materials company's stock, valued at approximately $34,869,000. Alamos Gold accounts for about 1.6% of Addenda Capital Inc.'s investment portfolio, making the stock its 19th largest holding. Addenda Capital Inc. owned approximately 0.45% of Alamos Gold at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AGI. Mackenzie Financial Corp lifted its stake in Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company's stock valued at $119,003,000 after buying an additional 4,521,282 shares in the last quarter. FMR LLC lifted its position in shares of Alamos Gold by 50.8% in the 3rd quarter. FMR LLC now owns 6,374,543 shares of the basic materials company's stock valued at $127,027,000 after acquiring an additional 2,148,153 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Alamos Gold by 19.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company's stock worth $110,662,000 after purchasing an additional 891,255 shares during the period. CIBC Asset Management Inc grew its position in Alamos Gold by 79.3% during the 3rd quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company's stock worth $97,336,000 after purchasing an additional 2,149,915 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Alamos Gold by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,066,428 shares of the basic materials company's stock valued at $41,205,000 after purchasing an additional 38,913 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 2.0 %

NYSE:AGI traded up $0.39 during trading hours on Tuesday, reaching $19.93. The company's stock had a trading volume of 2,136,958 shares, compared to its average volume of 1,931,274. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $21.45. The business's 50-day moving average is $18.82 and its 200-day moving average is $18.94.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The company had revenue of $360.90 million for the quarter. Equities research analysts predict that Alamos Gold Inc. will post 0.81 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Thursday, December 5th. Alamos Gold's dividend payout ratio is currently 16.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AGI. Jefferies Financial Group lifted their price target on Alamos Gold from $23.00 to $28.00 and gave the company a "buy" rating in a report on Friday, October 4th. National Bank Financial raised Alamos Gold from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, December 3rd. Finally, StockNews.com lowered shares of Alamos Gold from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $25.06.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.