Verbena Value LP grew its position in Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) by 44.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 923,200 shares of the basic materials company’s stock after purchasing an additional 285,200 shares during the quarter. Alamos Gold makes up 6.7% of Verbena Value LP’s portfolio, making the stock its 7th biggest position. Verbena Value LP’s holdings in Alamos Gold were worth $41,018,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after acquiring an additional 1,227,695 shares in the last quarter. Empowered Funds LLC bought a new position in Alamos Gold during the 1st quarter worth about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alamos Gold by 129.2% during the 1st 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 purchasing an additional 571,536 shares during the period. Qube Research & Technologies Ltd increased its position in Alamos Gold by 375.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after purchasing an additional 774,111 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Alamos Gold by 6.9% in the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after purchasing an additional 26,045 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.
Analysts Set New Price Targets
AGI has been the topic of a number of recent research reports. Bank of America dropped their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Jefferies Financial Group decreased their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings downgraded Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.
Alamos Gold Trading Down 0.1%
Alamos Gold stock opened at $29.44 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The stock has a market cap of $12.32 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. The stock has a 50-day moving average of $36.53 and a two-hundred day moving average of $41.45. Alamos Gold Inc. has a one year low of $23.92 and a one year high of $55.41.
Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was up 79.2% on a year-over-year basis. On average, research analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.
Alamos Gold Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s payout ratio is currently 6.37%.
About Alamos Gold
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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