Norges Bank Makes New Investment in Alamos Gold Inc. $AGI

Norges Bank bought a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,683,697 shares of the basic materials company’s stock, valued at approximately $219,475,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 worth $600,712,000 after buying an additional 524,263 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings 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 worth $1,932,000 after acquiring an additional 53,398 shares during the period. Cannell & Spears LLC boosted its holdings 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 worth $44,492,000 after acquiring an additional 1,067,883 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Alamos Gold by 35.5% in the third quarter. Alps Advisors Inc. now owns 92,436 shares of the basic materials company’s stock worth $3,222,000 after acquiring an additional 24,223 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its holdings in shares of Alamos Gold by 36.3% in the third quarter. Montrusco Bolton Investments Inc. now owns 547,567 shares of the basic materials company’s stock worth $19,090,000 after acquiring an additional 145,843 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Alamos Gold Trading Down 0.0%

Shares of AGI stock opened at $39.54 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $43.11 and a two-hundred day moving average price of $41.96. Alamos Gold Inc. has a 12-month low of $23.92 and a 12-month high of $55.41. The firm has a market cap of $16.61 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.51 and a beta of 0.49.

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

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders 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 dividend yield of 0.4%. Alamos Gold’s payout ratio is currently 6.37%.

Alamos Gold Company 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.