Allspring Global Investments Holdings LLC Increases Stock Holdings in Alamos Gold Inc. $AGI

Allspring Global Investments Holdings LLC increased its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,538,980 shares of the basic materials company’s stock after buying an additional 70,000 shares during the period. Allspring Global Investments Holdings LLC owned about 0.37% of Alamos Gold worth $59,428,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in Alamos Gold by 105.2% during 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 acquiring an additional 1,227,695 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Alamos Gold during the 1st quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alamos Gold by 129.2% during 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 worth $27,111,000 after purchasing an additional 571,536 shares during the last quarter. Cetera Investment Advisers lifted its stake in Alamos Gold by 106.1% in the 2nd quarter. Cetera Investment Advisers now owns 32,935 shares of the basic materials company’s stock valued at $874,000 after buying an additional 16,956 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Alamos Gold by 146.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 283,207 shares of the basic materials company’s stock valued at $7,513,000 after buying an additional 168,344 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AGI. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research report on Sunday, December 7th. Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Scotiabank lifted their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold presently has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Trading Up 2.7%

Shares of AGI opened at $45.63 on Thursday. Alamos Gold Inc. has a fifty-two week low of $23.49 and a fifty-two week high of $55.41. The company has a market capitalization of $19.16 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63. The stock has a fifty day moving average of $44.97 and a two-hundred day moving average of $38.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (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 analysts’ expectations of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business’s revenue was up 53.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were issued a $0.04 dividend. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.4%. Alamos Gold’s dividend payout ratio (DPR) is presently 7.62%.

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.