Norges Bank bought a new stake in shares of Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,683,697 shares of the basic materials company’s stock, valued at approximately $219,475,000. Norges Bank owned approximately 1.35% of Alamos Gold at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in Alamos Gold in the fourth quarter worth approximately $25,000. Clearstead Advisors LLC boosted its holdings in Alamos Gold by 62.8% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Bayforest Capital Ltd bought a new position in Alamos Gold in the fourth quarter worth approximately $44,000. EverSource Wealth Advisors LLC boosted its holdings in Alamos Gold by 69.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 581 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Alamos Gold by 93.2% in the third quarter. CIBC Private Wealth Group LLC now owns 4,781 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 2,307 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.
Alamos Gold Stock Performance
Shares of AGI opened at $39.54 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $16.61 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.51 and a beta of 0.49. The stock has a 50 day moving average of $43.11 and a 200 day moving average of $41.96. Alamos Gold Inc. has a 12 month low of $23.92 and a 12 month high of $55.41.
Alamos Gold Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is currently 6.37%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Wall Street Zen lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Scotiabank raised their target price on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Finally, Weiss Ratings lowered Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold presently has a consensus rating of “Buy” and an average price target of $50.67.
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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