Massachusetts Financial Services Co. MA Purchases Shares of 1,876,882 Alamos Gold Inc. $AGI

Massachusetts Financial Services Co. MA purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,876,882 shares of the basic materials company’s stock, valued at approximately $72,410,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in Alamos Gold by 35.3% during the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after purchasing an additional 11,876,324 shares during the last quarter. Vanguard Group Inc. boosted its stake in Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after purchasing an additional 524,263 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Alamos Gold by 6.3% during the 3rd quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock valued at $332,724,000 after purchasing an additional 567,926 shares during the last quarter. Invesco Ltd. boosted its stake in Alamos Gold by 23.4% during the 3rd quarter. Invesco Ltd. now owns 2,981,880 shares of the basic materials company’s stock valued at $103,948,000 after purchasing an additional 565,441 shares during the last quarter. Finally, Amundi boosted its stake in Alamos Gold by 23.5% during the 3rd quarter. Amundi now owns 2,964,424 shares of the basic materials company’s stock valued at $102,984,000 after purchasing an additional 563,528 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

Alamos Gold stock opened at $48.23 on Tuesday. Alamos Gold Inc. has a 52 week low of $23.75 and a 52 week high of $55.41. The company’s 50 day moving average price is $45.84 and its two-hundred day moving average price is $39.75. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.25 billion, a P/E ratio of 22.97, a P/E/G ratio of 0.67 and a beta of 0.63.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The firm had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same quarter last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. On average, equities analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is 7.62%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AGI. Scotiabank lifted their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Finally, Weiss Ratings cut shares of Alamos Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.67.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.