Barometer Capital Management Inc. Buys New Holdings in Alamos Gold Inc. $AGI

Barometer Capital Management Inc. purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 301,000 shares of the basic materials company’s stock, valued at approximately $10,493,000. Alamos Gold accounts for 2.7% of Barometer Capital Management Inc.’s portfolio, making the stock its 12th largest holding. Barometer Capital Management Inc. owned approximately 0.07% of Alamos Gold at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Alamos Gold in the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 581 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Alamos Gold in the second quarter worth about $98,000. Employees Retirement System of Texas purchased a new stake in shares of Alamos Gold in the second quarter worth about $112,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Alamos Gold by 528.4% in the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock valued at $156,000 after buying an additional 3,757 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AGI has been the subject of several recent research reports. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Desjardins initiated coverage on shares of Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating on the stock. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Trading Down 2.3%

Shares of NYSE AGI opened at $49.42 on Thursday. Alamos Gold Inc. has a 12-month low of $23.49 and a 12-month high of $55.41. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.68 and a beta of 0.55. 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 stock’s 50 day simple moving average is $44.27 and its 200 day simple moving average is $37.68.

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

Alamos Gold Increases Dividend

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