The Manufacturers Life Insurance Company grew its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,027,515 shares of the basic materials company's stock after acquiring an additional 84,787 shares during the quarter. The Manufacturers Life Insurance Company owned 0.51% of Alamos Gold worth $31,758,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its stake in Alamos Gold by 8.3% during 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 buying an additional 4,009,220 shares during the period. Vanguard Group Inc. grew its position in shares of Alamos Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company's stock valued at $216,371,000 after purchasing an additional 250,207 shares during the period. Price T Rowe Associates Inc. MD grew its position 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 valued at $97,183,000 after purchasing an additional 2,756,759 shares during the period. Bank of New York Mellon Corp increased its stake in Alamos Gold by 31.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company's stock worth $68,576,000 after purchasing an additional 1,058,000 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Alamos Gold by 311.9% during 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 buying an additional 2,051,935 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
AGI has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Alamos Gold from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Royal Bank of Canada increased their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Scotiabank boosted their price target on Alamos Gold from $20.00 to $22.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Finally, National Bank Financial downgraded Alamos Gold from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Alamos Gold has a consensus rating of "Moderate Buy" and an average price target of $23.81.
Check Out Our Latest Analysis on AGI
Alamos Gold Trading Up 1.3 %
Shares of Alamos Gold stock traded up $0.25 during trading hours on Tuesday, reaching $20.20. 3,575,117 shares of the company's stock were exchanged, compared to its average volume of 2,367,403. The company has a 50 day moving average of $18.80 and a two-hundred day moving average of $16.76. The stock has a market cap of $8.06 billion, a P/E ratio of 38.44, a P/E/G ratio of 0.90 and a beta of 1.18. Alamos Gold Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $21.42.
Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The firm had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. During the same period last year, the company earned $0.15 earnings per share. The business's revenue was up 27.4% compared to the same quarter last year. As a group, analysts expect that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.
Alamos Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold's dividend payout ratio is currently 19.23%.
Alamos Gold Profile
(
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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