Geode Capital Management LLC Acquires 2,923,478 Shares of Alamos Gold Inc. $AGI

Geode Capital Management LLC grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 639.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,380,859 shares of the basic materials company’s stock after acquiring an additional 2,923,478 shares during the period. Geode Capital Management LLC’s holdings in Alamos Gold were worth $91,379,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in Alamos Gold in the second quarter valued at about $30,000. Banque Transatlantique SA acquired a new stake in Alamos Gold during the first quarter valued at approximately $31,000. SVB Wealth LLC acquired a new stake in Alamos Gold during the first quarter valued at approximately $67,000. Banque Cantonale Vaudoise bought a new stake in shares of Alamos Gold in the 1st quarter valued at approximately $68,000. Finally, Bessemer Group Inc. bought a new stake in shares of Alamos Gold in the 2nd quarter valued at approximately $90,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AGI. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Weiss Ratings upgraded shares of Alamos Gold from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday. National Bankshares reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, August 5th. Finally, Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $41.00.

Alamos Gold Trading Up 1.1%

Shares of AGI opened at $32.61 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.50 and a beta of 0.50. The stock has a fifty day moving average price of $32.98 and a two-hundred day moving average price of $29.09. Alamos Gold Inc. has a 52-week low of $17.80 and a 52-week high of $37.54.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.69% and a net margin of 33.46%.The company had revenue of $462.30 million for the quarter, compared to analysts’ expectations of $490.96 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. Analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) is presently 7.81%.

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.