Wealth Enhancement Advisory Services LLC Grows Stock Position in Alamos Gold Inc. $AGI

Wealth Enhancement Advisory Services LLC increased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 20.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,444 shares of the basic materials company’s stock after purchasing an additional 2,493 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alamos Gold were worth $390,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. acquired a new stake in Alamos Gold during the 1st quarter worth $37,738,000. Goldman Sachs Group Inc. lifted its stake 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 worth $64,032,000 after buying an additional 1,227,695 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Alamos Gold by 19.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company’s stock worth $156,780,000 after buying an additional 957,359 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Alamos Gold during the first quarter worth about $24,011,000. Finally, Canada Pension Plan Investment Board grew its stake in Alamos Gold by 50.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,972,249 shares of the basic materials company’s stock valued at $52,705,000 after acquiring an additional 665,485 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Trading Up 2.1%

AGI opened at $34.74 on Tuesday. Alamos Gold Inc. has a 52 week low of $17.42 and a 52 week high of $35.61. The business has a fifty day simple moving average of $30.01 and a 200-day simple moving average of $27.79. The firm has a market cap of $14.61 billion, a P/E ratio of 41.86, a P/E/G ratio of 0.69 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The firm had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 11th. Alamos Gold’s dividend payout ratio is currently 12.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on AGI shares. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a “buy” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Alamos Gold in a research report on Saturday, September 27th. Stifel Canada upgraded Alamos Gold to a “strong-buy” rating in a research report on Tuesday, July 8th. National Bankshares reissued an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.17.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.