The Manufacturers Life Insurance Company grew its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 1.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,066,428 shares of the basic materials company's stock after acquiring an additional 38,913 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.49% of Alamos Gold worth $41,205,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Hara Capital LLC bought a new stake in shares of Alamos Gold during the third quarter valued at about $47,000. Baldwin Brothers LLC MA bought a new stake in shares of Alamos Gold during the 2nd quarter worth about $47,000. Daiwa Securities Group Inc. acquired a new stake in shares of Alamos Gold in the 2nd quarter worth approximately $48,000. Eastern Bank bought a new position in shares of Alamos Gold in the third quarter valued at approximately $111,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Alamos Gold during the second quarter valued at approximately $88,000. Institutional investors and hedge funds own 64.33% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on AGI. Royal Bank of Canada increased their price target on Alamos Gold from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their target price on Alamos Gold from $23.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, October 4th. StockNews.com cut shares of Alamos Gold from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, October 22nd. Scotiabank raised their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Finally, National Bank Financial downgraded shares of Alamos Gold from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.06.
Check Out Our Latest Research Report on AGI
Alamos Gold Trading Up 2.0 %
Shares of NYSE:AGI traded up $0.37 during midday trading on Friday, reaching $18.82. The company had a trading volume of 1,082,333 shares, compared to its average volume of 2,361,540. The company has a fifty day simple moving average of $19.68 and a two-hundred day simple moving average of $18.17. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19. Alamos Gold Inc. has a 1-year low of $11.24 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62.
Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The firm had revenue of $360.90 million during the quarter. Research analysts predict that Alamos Gold Inc. will post 0.77 earnings per share for the current year.
Alamos Gold Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, December 5th. Alamos Gold's payout ratio is 16.67%.
Alamos Gold 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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