Geode Capital Management LLC Raises Stake in Alamos Gold Inc. (NYSE:AGI)

Geode Capital Management LLC increased its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 11.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299,612 shares of the basic materials company’s stock after buying an additional 29,933 shares during the period. Geode Capital Management LLC owned about 0.07% of Alamos Gold worth $6,224,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Hara Capital LLC purchased a new stake in shares of Alamos Gold during the 3rd quarter worth approximately $47,000. Daiwa Securities Group Inc. bought a new position in Alamos Gold during the second quarter valued at $48,000. Employees Retirement System of Texas purchased a new stake in Alamos Gold in the second quarter worth $88,000. Eastern Bank bought a new stake in Alamos Gold in the 3rd quarter valued at about $111,000. Finally, Plato Investment Management Ltd purchased a new stake in Alamos Gold during the third quarter valued at about $147,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Down 0.5 %

Shares of AGI opened at $19.17 on Friday. Alamos Gold Inc. has a 1-year low of $11.24 and a 1-year high of $21.45. The company has a market capitalization of $8.05 billion, a P/E ratio of 31.95, a P/E/G ratio of 0.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $18.97 and its 200 day simple moving average is $18.62.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The company had revenue of $360.90 million for the quarter. Sell-side analysts forecast that Alamos Gold Inc. will post 0.77 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, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, December 5th. Alamos Gold’s dividend payout ratio (DPR) is currently 16.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group increased their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. StockNews.com downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $25.06.

Alamos Gold Company 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.