Progeny 3 Inc. Purchases Shares of 800,155 Alamos Gold Inc. (NYSE:AGI)

Progeny 3 Inc. purchased a new stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 800,155 shares of the basic materials company's stock, valued at approximately $12,546,000. Alamos Gold makes up about 1.2% of Progeny 3 Inc.'s portfolio, making the stock its 23rd biggest holding. Progeny 3 Inc. owned 0.20% of Alamos Gold at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alamos Gold during the 4th quarter worth approximately $64,117,000. Van ECK Associates Corp raised its holdings in shares of Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company's stock worth $772,863,000 after purchasing an additional 4,009,220 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alamos Gold by 71.9% in the 1st 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. CIBC Asset Management Inc raised its holdings in shares of Alamos Gold by 311.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company's stock worth $42,480,000 after purchasing an additional 2,051,935 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Alamos Gold by 396.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company's stock worth $19,215,000 after purchasing an additional 1,139,404 shares during the period. Institutional investors own 64.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on AGI. Scotiabank lifted their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Alamos Gold from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, September 13th. National Bank Financial cut shares of Alamos Gold from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 8th. Finally, 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 report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Alamos Gold presently has an average rating of "Moderate Buy" and an average price target of $23.81.

Alamos Gold Trading Down 0.7 %

Shares of Alamos Gold stock traded down $0.15 during trading on Tuesday, hitting $20.89. The stock had a trading volume of 2,067,840 shares, compared to its average volume of 2,345,232. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 0.82 and a beta of 1.18. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $21.42. The business's 50-day moving average is $18.55 and its 200 day moving average is $16.58.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million for the quarter, compared to analysts' expectations of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The business's quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, equities analysts expect that Alamos Gold Inc. will post 0.75 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. Alamos Gold's payout ratio is currently 19.23%.

Alamos Gold 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.