First Manhattan CO. LLC. Purchases 40,000 Shares of Alamos Gold Inc. (NYSE:AGI)

First Manhattan CO. LLC. raised its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,000 shares of the basic materials company’s stock after buying an additional 40,000 shares during the quarter. First Manhattan CO. LLC.’s holdings in Alamos Gold were worth $3,135,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its position in Alamos Gold by 46.6% in the third quarter. Barclays PLC now owns 322,402 shares of the basic materials company’s stock worth $6,428,000 after purchasing an additional 102,525 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alamos Gold by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,737,200 shares of the basic materials company’s stock worth $34,655,000 after buying an additional 61,700 shares in the last quarter. Capital CS Group LLC bought a new position in shares of Alamos Gold during the 4th quarter worth approximately $578,000. Assenagon Asset Management S.A. boosted its stake in Alamos Gold by 40.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 395,769 shares of the basic materials company’s stock valued at $7,298,000 after buying an additional 113,071 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Alamos Gold by 51.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 856 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

AGI opened at $27.06 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The company’s 50 day simple moving average is $26.61 and its 200-day simple moving average is $22.33. Alamos Gold Inc. has a one year low of $15.01 and a one year high of $31.00. The stock has a market capitalization of $11.38 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.60.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. During the same period last year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.37%. Alamos Gold’s payout ratio is presently 16.13%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AGI shares. Royal Bank of Canada boosted their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research report on Monday, April 14th. StockNews.com lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Bank of America cut their target price on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, National Bank Financial raised Alamos Gold to a “strong-buy” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and an average price target of $30.38.

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.