Old West Investment Management LLC raised its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,892 shares of the basic materials company's stock after buying an additional 48,128 shares during the quarter. Alamos Gold accounts for 3.5% of Old West Investment Management LLC's holdings, making the stock its 10th biggest holding. Old West Investment Management LLC owned 0.12% of Alamos Gold worth $9,689,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in AGI. CANADA LIFE ASSURANCE Co boosted its stake in shares of Alamos Gold by 131.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company's stock valued at $1,434,000 after buying an additional 55,352 shares during the period. National Bank of Canada FI grew its holdings in shares of Alamos Gold by 3.4% during the 1st quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company's stock worth $21,824,000 after purchasing an additional 45,412 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company's stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. Russell Investments Group Ltd. raised its stake in Alamos Gold by 66.2% in the first quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company's stock valued at $2,829,000 after purchasing an additional 76,379 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its position in Alamos Gold by 81.9% during the second quarter. Murphy Pohlad Asset Management LLC now owns 135,870 shares of the basic materials company's stock worth $2,130,000 after purchasing an additional 61,155 shares during the period. Institutional investors own 64.33% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AGI. Royal Bank of Canada boosted their target price on shares of Alamos Gold from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Jefferies Financial Group upped their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. National Bank Financial lowered Alamos Gold from a "strong-buy" rating to a "hold" rating in a research note on Sunday, September 8th. StockNews.com cut Alamos Gold from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Scotiabank raised their price objective on Alamos Gold from $20.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Alamos Gold presently has a consensus rating of "Moderate Buy" and an average target price of $25.06.
View Our Latest Stock Analysis on AGI
Alamos Gold Price Performance
Shares of NYSE AGI traded down $0.73 during mid-day trading on Wednesday, hitting $19.45. 3,959,599 shares of the stock traded hands, compared to its average volume of 2,341,503. Alamos Gold Inc. has a twelve month low of $11.24 and a twelve month high of $21.45. The firm has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $17.81. The company has a market cap of $8.17 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19.
Alamos Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, September 12th. Alamos Gold's dividend payout ratio (DPR) is currently 20.00%.
Alamos Gold Company Profile
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Free Report)
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.
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