Public Employees Retirement System of Ohio Acquires New Holdings in Alamos Gold Inc. $AGI

Public Employees Retirement System of Ohio bought a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,684 shares of the basic materials company’s stock, valued at approximately $2,144,000.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Alamos Gold in the 4th quarter valued at approximately $219,475,000. Bank of America Corp DE boosted its holdings in shares of Alamos Gold by 137.3% in the third quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock valued at $91,492,000 after buying an additional 1,518,374 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after buying an additional 1,227,695 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after acquiring an additional 1,216,977 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Alamos Gold by 11.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock valued at $351,072,000 after acquiring an additional 964,317 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on AGI. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Jefferies Financial Group reduced their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Bank of America decreased their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada reduced their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Trading Down 0.0%

Shares of NYSE:AGI opened at $36.96 on Monday. The company’s 50-day moving average price is $32.16 and its two-hundred day moving average price is $39.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. Alamos Gold Inc. has a one year low of $27.05 and a one year high of $55.41. The stock has a market capitalization of $15.47 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.50 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.Alamos Gold’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, equities analysts forecast that Alamos Gold Inc. will post 2.12 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.4%. Alamos Gold’s dividend payout ratio is 5.78%.

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.