Petra Financial Advisors Inc. Acquires Shares of 22,285 Alamos Gold Inc. $AGI

Petra Financial Advisors Inc. purchased a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,285 shares of the basic materials company’s stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Addenda Capital Inc. raised its stake in shares of Alamos Gold by 12.3% in the second quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock valued at $51,657,000 after purchasing an additional 212,918 shares in the last quarter. Calamos Wealth Management LLC acquired a new position in Alamos Gold in the second quarter worth $3,070,000. Montrusco Bolton Investments Inc. bought a new stake in Alamos Gold during the 2nd quarter worth about $10,664,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Alamos Gold during the first quarter valued at $320,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Alamos Gold during the second quarter worth approximately $717,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Stock Down 3.2%

AGI stock opened at $30.54 on Tuesday. Alamos Gold Inc. has a 1-year low of $17.42 and a 1-year high of $37.54. The firm has a market capitalization of $12.85 billion, a PE ratio of 36.80, a PEG ratio of 0.49 and a beta of 0.50. The business’s 50 day simple moving average is $32.35 and its 200 day simple moving average is $28.59. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $438.20 million for the quarter, compared to analysts’ expectations of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. As a group, research analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, September 11th. Alamos Gold’s dividend payout ratio is presently 12.05%.

Wall Street Analyst Weigh In

AGI has been the topic of several recent research reports. Stifel Canada upgraded Alamos Gold to a “strong-buy” rating in a research report on Tuesday, July 8th. Wall Street Zen raised Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus started coverage on Alamos Gold in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alamos Gold in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $41.00.

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.