Alamos Gold Inc. $AGI is Addenda Capital Inc.’s 7th Largest Position

Addenda Capital Inc. boosted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 17.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,274,863 shares of the basic materials company’s stock after acquiring an additional 329,935 shares during the quarter. Alamos Gold comprises 2.9% of Addenda Capital Inc.’s investment portfolio, making the stock its 7th biggest holding. Addenda Capital Inc. owned 0.54% of Alamos Gold worth $79,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AGI. Ameritas Advisory Services LLC acquired a new stake in Alamos Gold during the 2nd quarter valued at $30,000. Banque Transatlantique SA acquired a new position in shares of Alamos Gold in the first quarter worth $31,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alamos Gold in the third quarter valued at $35,000. SVB Wealth LLC acquired a new stake in shares of Alamos Gold during the first quarter valued at $67,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Alamos Gold during the second quarter valued at $90,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

Alamos Gold stock opened at $37.74 on Friday. Alamos Gold Inc. has a 1 year low of $17.80 and a 1 year high of $39.44. The firm has a 50 day moving average price of $34.23 and a 200 day moving average price of $30.55. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 0.53 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.33 and a current ratio of 1.72.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $462.30 million for the quarter, compared to analyst estimates of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. Alamos Gold’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. Sell-side analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, December 4th. Alamos Gold’s payout ratio is 7.81%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Thursday, October 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, September 16th. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of $43.00.

Alamos Gold Profile

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.