CIBC Asset Management Inc Raises Stake in Alamos Gold Inc. $AGI

CIBC Asset Management Inc increased its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,716,153 shares of the basic materials company’s stock after acquiring an additional 514,819 shares during the quarter. Alamos Gold accounts for 0.8% of CIBC Asset Management Inc’s portfolio, making the stock its 29th largest position. CIBC Asset Management Inc’s holdings in Alamos Gold were worth $338,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AGI. Vanguard Group Inc. increased its position in shares of Alamos Gold by 3.1% in the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after buying an additional 524,263 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Alamos Gold by 2,652.7% in the third quarter. SBI Securities Co. Ltd. now owns 55,411 shares of the basic materials company’s stock valued at $1,932,000 after purchasing an additional 53,398 shares during the last quarter. Cannell & Spears LLC grew its position in shares of Alamos Gold by 512.4% in the third quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company’s stock valued at $44,492,000 after purchasing an additional 1,067,883 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Alamos Gold by 35.5% during the 3rd quarter. Alps Advisors Inc. now owns 92,436 shares of the basic materials company’s stock worth $3,222,000 after purchasing an additional 24,223 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Alamos Gold by 36.3% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 547,567 shares of the basic materials company’s stock worth $19,090,000 after purchasing an additional 145,843 shares in the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AGI has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Scotiabank boosted their price target on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Weiss Ratings downgraded Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Wall Street Zen lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $50.67.

Alamos Gold Stock Performance

NYSE:AGI opened at $39.54 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The firm has a market cap of $16.61 billion, a PE ratio of 15.75, a P/E/G ratio of 0.51 and a beta of 0.49. The firm has a 50 day simple moving average of $43.11 and a 200-day simple moving average of $41.96. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. Alamos Gold’s revenue was up 79.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. On average, equities analysts expect that Alamos Gold Inc. will post 2.46 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a $0.04 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.4%. Alamos Gold’s payout ratio is 6.37%.

Alamos Gold Profile

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.