Pinnacle Wealth Management Group Inc. Makes New Investment in Alamos Gold Inc. $AGI

Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 71,731 shares of the basic materials company’s stock, valued at approximately $1,905,000. Alamos Gold comprises approximately 1.1% of Pinnacle Wealth Management Group Inc.’s portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Alamos Gold in the 1st quarter valued at about $320,000. Allspring Global Investments Holdings LLC increased its stake in shares of Alamos Gold by 6.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,085,880 shares of the basic materials company’s stock worth $29,018,000 after buying an additional 68,500 shares during the period. Sunbelt Securities Inc. acquired a new position in Alamos Gold in the first quarter valued at approximately $41,000. Red Cedar Investment Management LLC acquired a new position in Alamos Gold in the first quarter valued at approximately $2,847,000. Finally, D.A. Davidson & CO. acquired a new position in Alamos Gold in the first quarter valued at approximately $671,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AGI has been the topic of a number of research reports. Wall Street Zen upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus assumed coverage on Alamos Gold in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Finally, Zacks Research raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $41.00.

Alamos Gold Price Performance

AGI stock opened at $31.55 on Friday. Alamos Gold Inc. has a 52-week low of $17.42 and a 52-week high of $37.54. 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 company has a market capitalization of $13.27 billion, a PE ratio of 38.01, a P/E/G ratio of 0.50 and a beta of 0.50. The stock’s 50 day moving average is $32.26 and its two-hundred day moving average is $28.52.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $400.61 million. During the same period in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is currently 12.05%.

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.