Midwest Trust Co Acquires New Stake in Alamos Gold Inc. $AGI

Midwest Trust Co bought a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,300 shares of the basic materials company’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. grew its holdings in shares of Alamos Gold by 23.2% in the first quarter. Envestnet Asset Management Inc. now owns 107,022 shares of the basic materials company’s stock worth $2,862,000 after purchasing an additional 20,186 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Alamos Gold by 9.3% during the first quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company’s stock worth $315,000 after acquiring an additional 1,000 shares during the period. Cerity Partners LLC raised its stake in shares of Alamos Gold by 18.2% during the first quarter. Cerity Partners LLC now owns 30,051 shares of the basic materials company’s stock valued at $804,000 after acquiring an additional 4,622 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of Alamos Gold during the first quarter valued at approximately $885,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 660 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AGI shares. Wall Street Zen upgraded Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. National Bankshares reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Weiss Ratings upgraded Alamos Gold from a “buy (b)” rating to a “buy (a)” rating in a report on Friday, November 7th. Bank of America upped their price objective on shares of Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Alamos Gold currently has an average rating of “Buy” and a consensus price target of $41.00.

Alamos Gold Trading Up 3.2%

AGI opened at $33.71 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.50 and a beta of 0.50. Alamos Gold Inc. has a 12 month low of $17.42 and a 12 month high of $37.54. The stock has a fifty day moving average price of $32.90 and a 200-day moving average price of $28.80.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $462.30 million for the quarter, compared to the consensus estimate of $490.96 million. Alamos Gold had a return on equity of 12.69% and a net margin of 33.46%.The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 11th. Alamos Gold’s payout ratio is 7.81%.

About Alamos Gold

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.