Alamos Gold Inc. $AGI Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,219,852 shares of the basic materials company’s stock after buying an additional 242,415 shares during the quarter. Geode Capital Management LLC’s holdings in Alamos Gold were worth $168,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AGI. Van ECK Associates Corp raised its stake in shares of 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 worth $1,587,666,000 after buying an additional 11,876,324 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Alamos Gold during the 4th quarter worth about $72,410,000. Bank of America Corp DE increased its position in Alamos Gold by 137.3% during the 3rd quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock worth $91,492,000 after purchasing an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Alamos Gold by 105.2% during 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 purchasing an additional 1,227,695 shares in the last quarter. Finally, Cannell & Spears LLC increased its position in Alamos Gold by 512.4% during the 3rd quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company’s stock worth $44,492,000 after purchasing an additional 1,067,883 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analysts Set New Price Targets

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

Alamos Gold Trading Down 4.8%

Alamos Gold stock opened at $37.72 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The stock has a market cap of $15.84 billion, a PE ratio of 15.03, a P/E/G ratio of 0.51 and a beta of 0.49. The stock has a 50-day moving average price of $43.09 and a 200 day moving average price of $42.04. Alamos Gold Inc. has a 52 week low of $23.92 and a 52 week high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm’s revenue was up 79.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Equities research analysts predict that Alamos Gold Inc. will post 2.46 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is 6.37%.

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.