Cannell & Spears LLC lifted its position in shares of Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 704,330 shares of the basic materials company’s stock after purchasing an additional 44,539 shares during the period. Cannell & Spears LLC’s holdings in Alamos Gold were worth $31,240,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after buying an additional 1,227,695 shares in the last quarter. Empowered Funds LLC bought a new stake in Alamos Gold during the first quarter valued at about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after acquiring an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Alamos Gold by 375.1% in the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after acquiring an additional 774,111 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock worth $10,709,000 after acquiring an additional 26,045 shares during the period. Institutional investors own 64.33% of the company’s stock.
Alamos Gold Stock Up 0.7%
AGI opened at $29.59 on Friday. The firm has a 50-day simple moving average of $33.90 and a two-hundred day simple moving average of $40.71. Alamos Gold Inc. has a 52 week low of $23.92 and a 52 week high of $55.41. The company has a market capitalization of $12.39 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.
Alamos Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Alamos Gold’s dividend payout ratio is presently 6.37%.
Wall Street Analysts Forecast Growth
AGI has been the subject of several research analyst reports. Weiss Ratings cut Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Royal Bank Of Canada lowered their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Wall Street Zen upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.
Get Our Latest Research Report on AGI
Alamos Gold Profile
Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.
Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.
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