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

Mackenzie Financial Corp lessened its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,787,022 shares of the basic materials company’s stock after selling 584,607 shares during the quarter. Mackenzie Financial Corp owned approximately 1.61% of Alamos Gold worth $181,336,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in Alamos Gold during the 1st quarter valued at $41,000. SBI Securities Co. Ltd. grew its stake in shares of Alamos Gold by 67.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 660 shares in the last quarter. Cutler Capital Management LLC purchased a new stake in shares of Alamos Gold in the fourth quarter valued at about $108,000. Coppell Advisory Solutions LLC raised its holdings in shares of Alamos Gold by 14.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 1,260 shares during the last quarter. Finally, NBT Bank N A NY bought a new position in shares of Alamos Gold during the first quarter valued at about $190,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AGI shares. Royal Bank Of Canada upped their price objective 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. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. Bank of America decreased their price target on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus began coverage on Alamos Gold in a report on Wednesday, July 9th. They set a “buy” rating on the stock. Finally, CIBC reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and an average target price of $30.38.

Alamos Gold Stock Up 0.8%

Alamos Gold stock opened at $25.92 on Monday. The firm has a 50 day moving average price of $26.39 and a 200-day moving average price of $25.11. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. Alamos Gold Inc. has a twelve month low of $15.74 and a twelve month high of $31.00. The company has a market capitalization of $10.89 billion, a P/E ratio of 41.80, a P/E/G ratio of 0.56 and a beta of 0.54.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The firm had revenue of $333.00 million during the quarter, compared to analysts’ expectations of $324.98 million. During the same quarter in the previous year, the company posted $0.13 EPS. Alamos Gold’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, equities analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. Alamos Gold’s payout ratio is 16.13%.

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.