Investment Management Corp of Ontario Has $304,000 Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Investment Management Corp of Ontario reduced its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,459 shares of the basic materials company’s stock after selling 2,154 shares during the quarter. Investment Management Corp of Ontario’s holdings in Alamos Gold were worth $304,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Alamos Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock worth $295,105,000 after buying an additional 279,280 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock worth $173,991,000 after buying an additional 1,424,550 shares during the period. CIBC Asset Management Inc raised its stake in Alamos Gold by 59.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after buying an additional 2,867,027 shares during the period. Renaissance Technologies LLC raised its stake in Alamos Gold by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company’s stock worth $138,932,000 after buying an additional 318,360 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Alamos Gold by 296.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock worth $136,011,000 after buying an additional 5,516,186 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the topic of a number of research reports. Royal Bank of Canada upped their price target on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Bank of America lowered their price objective on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. StockNews.com downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, National Bank Financial raised Alamos Gold to a “strong-buy” rating in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.38.

Alamos Gold Stock Performance

AGI stock opened at $24.77 on Wednesday. The firm has a market cap of $10.42 billion, a PE ratio of 35.90, a P/E/G ratio of 0.40 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $26.63 and a 200-day moving average of $22.39. Alamos Gold Inc. has a 12-month low of $15.01 and a 12-month high of $31.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (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 business had revenue of $333.00 million during the quarter, compared to the consensus estimate of $324.98 million. During the same period in the prior year, the company earned $0.13 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is 16.13%.

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.