Mackenzie Financial Corp Increases Position in Alamos Gold Inc. (NYSE:AGI)

Mackenzie Financial Corp lifted its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,371,629 shares of the basic materials company’s stock after buying an additional 145,726 shares during the period. Mackenzie Financial Corp owned 1.75% of Alamos Gold worth $135,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AGI. Dimensional Fund Advisors LP lifted its stake in shares of Alamos Gold by 296.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after buying an additional 5,516,186 shares during the period. Norges Bank acquired a new position in Alamos Gold during the fourth quarter worth approximately $100,694,000. CIBC Asset Management Inc increased its position in Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after purchasing an additional 2,867,027 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Alamos Gold during the fourth quarter worth approximately $28,950,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Alamos Gold by 17.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company’s stock worth $173,991,000 after purchasing an additional 1,424,550 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AGI. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Monday, April 14th. Royal Bank of Canada upped their price target on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Bank of America dropped their price target on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, National Bank Financial raised shares of Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.38.

Alamos Gold Price Performance

Alamos Gold stock opened at $26.26 on Friday. Alamos Gold Inc. has a 52-week low of $15.01 and a 52-week high of $31.00. The firm has a fifty day moving average of $26.72 and a 200-day moving average of $22.66. The firm has a market capitalization of $11.04 billion, a P/E ratio of 38.05, a PEG ratio of 0.40 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The business had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. During the same period in the previous year, the company earned $0.13 EPS. Alamos Gold’s revenue was up 20.0% on a year-over-year basis. As a group, analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, March 13th. Alamos Gold’s payout ratio is currently 16.13%.

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.