Cary Street Partners Financial LLC Takes $850,000 Position in Alamos Gold Inc. $AGI

Cary Street Partners Financial LLC bought a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,395 shares of the basic materials company’s stock, valued at approximately $850,000.

Several other institutional investors have also recently added to or reduced their stakes in AGI. Goldman Sachs Group Inc. grew its stake in shares of Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Alamos Gold during the first quarter worth $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alamos Gold by 129.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after buying an additional 571,536 shares during the last quarter. Bessemer Group Inc. acquired a new position in Alamos Gold in the 2nd quarter valued at $90,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Alamos Gold during the 2nd quarter worth $1,502,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AGI. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Scotiabank lifted their price objective on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. TD Securities reissued a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Trading Up 3.5%

Shares of AGI opened at $54.27 on Friday. Alamos Gold Inc. has a twelve month low of $22.03 and a twelve month high of $54.37. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $22.79 billion, a P/E ratio of 25.84, a PEG ratio of 0.52 and a beta of 0.61. The firm’s 50-day moving average is $42.45 and its two-hundred day moving average is $36.30.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The company’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. On average, research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s dividend payout ratio (DPR) is presently 4.76%.

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.