Daiwa Securities Group Inc. Invests $48,000 in Alamos Gold Inc. (NYSE:AGI)

Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 3,036 shares of the basic materials company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AGI. Norges Bank acquired a new stake in shares of Alamos Gold in the 4th quarter valued at about $64,117,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Alamos Gold during the fourth quarter valued at approximately $216,000. Oxford Asset Management LLP bought a new position in Alamos Gold during the 4th quarter worth approximately $251,000. Chesapeake Capital Corp IL acquired a new position in shares of Alamos Gold in the 4th quarter worth approximately $581,000. Finally, Eaton Financial Holdings Company LLC bought a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $469,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Stock Down 1.2 %

Shares of NYSE AGI opened at $20.20 on Thursday. The stock’s fifty day simple moving average is $18.30 and its 200 day simple moving average is $16.34. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 0.82 and a beta of 1.18. Alamos Gold Inc. has a 52-week low of $10.78 and a 52-week high of $21.14.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. As a group, analysts anticipate that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.50%. Alamos Gold’s dividend payout ratio (DPR) is currently 19.23%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AGI shares. National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Scotiabank boosted 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. Jefferies Financial Group raised their target price 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. Finally, Royal Bank of Canada upped their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.81.

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.