Alamos Gold Inc. (NYSE:AGI) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 140.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,470,777 shares of the basic materials company’s stock after purchasing an additional 858,977 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.37% of Alamos Gold worth $23,062,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AGI. Norges Bank acquired a new stake in Alamos Gold during the 4th quarter valued at $64,117,000. Van ECK Associates Corp boosted its stake in shares of Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after acquiring an additional 4,009,220 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Alamos Gold by 71.9% during 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 in the last quarter. CIBC Asset Management Inc raised its stake in 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 valued at $42,480,000 after purchasing an additional 2,051,935 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 valued at $19,215,000 after purchasing an additional 1,139,404 shares in the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 1.1 %

Shares of AGI opened at $21.04 on Tuesday. Alamos Gold Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $21.42. The company’s fifty day moving average is $18.49 and its two-hundred day moving average is $16.52. The firm has a market cap of $8.40 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 0.82 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its 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. The firm had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, equities research analysts anticipate that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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. Royal Bank of Canada lifted their target price on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their price target on Alamos Gold from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.81.

About Alamos Gold

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.