Encompass Capital Advisors LLC bought a new position in shares of Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 300,065 shares of the basic materials company’s stock, valued at approximately $13,332,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new stake in Alamos Gold during the 4th quarter worth about $25,000. Clearstead Advisors LLC grew its holdings in shares of Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Parallel Advisors LLC bought a new stake in Alamos Gold during the first quarter worth about $35,000. Finally, Bayforest Capital Ltd bought a new stake in Alamos Gold during the fourth quarter worth about $44,000. Institutional investors own 64.33% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on AGI. Royal Bank Of Canada decreased their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Bank of America cut their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.50.
Alamos Gold Stock Up 0.4%
AGI stock opened at $29.69 on Tuesday. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.38 and a beta of 0.55. The business’s fifty day moving average price is $33.68 and its two-hundred day moving average price is $40.64.
Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. Alamos Gold’s quarterly revenue was up 79.2% on a year-over-year basis. On average, equities analysts anticipate that Alamos Gold Inc. will post 2.19 earnings per share for the current year.
Alamos Gold Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s payout ratio is 6.37%.
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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