Intact Investment Management Inc. Boosts Holdings in Alamos Gold Inc. $AGI

Intact Investment Management Inc. lifted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,696 shares of the basic materials company’s stock after acquiring an additional 24,330 shares during the period. Intact Investment Management Inc. owned 0.16% of Alamos Gold worth $22,928,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc raised its stake in Alamos Gold by 29.3% during the second quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock worth $296,623,000 after purchasing an additional 2,521,347 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Alamos Gold by 32.3% during the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock worth $238,990,000 after buying an additional 2,192,593 shares during the last quarter. Norges Bank purchased a new position in shares of Alamos Gold in the 2nd quarter worth $144,808,000. Geode Capital Management LLC raised its position in shares of Alamos Gold by 639.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock worth $91,379,000 after buying an additional 2,923,478 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Alamos Gold by 1.7% in the second quarter. TD Asset Management Inc now owns 2,599,832 shares of the basic materials company’s stock valued at $69,011,000 after acquiring an additional 43,497 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on AGI. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Zacks Research lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Bank of America lifted their price target on shares of Alamos Gold from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research note on Sunday, December 7th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.00.

Alamos Gold Stock Up 3.0%

Shares of NYSE:AGI opened at $43.45 on Monday. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 0.41 and a beta of 0.63. The company has a 50 day moving average of $38.32 and a two-hundred day moving average of $33.11. Alamos Gold Inc. has a 52-week low of $19.74 and a 52-week high of $43.95. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $462.30 million for the quarter, compared to analysts’ expectations of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. Alamos Gold’s dividend payout ratio (DPR) is currently 7.81%.

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.