Harbor Investment Advisory LLC Raises Stock Position in Alamos Gold Inc. $AGI

Harbor Investment Advisory LLC increased its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,698 shares of the basic materials company’s stock after acquiring an additional 1,471 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Alamos Gold were worth $1,718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alamos Gold by 129.2% in 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 worth $27,111,000 after acquiring an additional 571,536 shares in the last quarter. Empowered Funds LLC purchased a new stake in Alamos Gold in the 1st quarter worth $200,000. Sciencast Management LP purchased a new stake in Alamos Gold in the 1st quarter worth $1,705,000. Goldman Sachs Group Inc. increased its holdings in Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock worth $64,032,000 after acquiring an additional 1,227,695 shares in the last quarter. Finally, Knightsbridge Asset Management LLC purchased a new stake in Alamos Gold in the 1st quarter worth $218,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Up 0.2%

NYSE AGI opened at $32.97 on Friday. Alamos Gold Inc. has a 52 week low of $17.42 and a 52 week high of $33.27. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $27.65 and its 200-day simple moving average is $26.74. The firm has a market cap of $13.87 billion, a PE ratio of 39.72, a P/E/G ratio of 0.72 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The business had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued 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 is Thursday, September 11th. Alamos Gold’s payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

AGI has been the topic of several recent research reports. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. CIBC reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Stifel Canada raised shares of Alamos Gold to a “strong-buy” rating in a research note on Tuesday, July 8th. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a “buy” rating on the stock. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $30.38.

Alamos Gold Company 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.