Assenagon Asset Management S.A. purchased 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 13F filing with the Securities & Exchange Commission. The institutional investor purchased 305,168 shares of the basic materials company’s stock, valued at approximately $1,407,000. Assenagon Asset Management S.A. owned about 0.08% of Alamos Gold as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in AGI. CIBC Asset Management Inc grew its position in shares of Alamos Gold by 125.4% during the second quarter. CIBC Asset Management Inc now owns 9,367,625 shares of the basic materials company’s stock worth $53,380,000 after acquiring an additional 5,211,004 shares during the last quarter. Formula Growth Ltd. grew its position in Alamos Gold by 613.0% in the 2nd quarter. Formula Growth Ltd. now owns 4,991,300 shares of the basic materials company’s stock valued at $28,400,000 after buying an additional 4,291,300 shares in the last quarter. Intact Investment Management Inc. bought a new position in Alamos Gold in the 2nd quarter valued at about $12,815,000. Bank of New York Mellon Corp grew its position in Alamos Gold by 24.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,703,279 shares of the basic materials company’s stock valued at $38,141,000 after buying an additional 1,324,377 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Alamos Gold by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 39,650,481 shares of the basic materials company’s stock valued at $225,622,000 after buying an additional 1,118,918 shares in the last quarter. Institutional investors and hedge funds own 59.32% of the company’s stock.
A number of brokerages recently issued reports on AGI. Zacks Investment Research upgraded shares of Alamos Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Alamos Gold from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. CSFB reiterated an “outperform” rating and issued a $7.50 target price on shares of Alamos Gold in a research report on Friday, September 7th. Finally, Raymond James reiterated a “buy” rating on shares of Alamos Gold in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.29.
Shares of AGI opened at $3.59 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.73 and a beta of 0.34. Alamos Gold Inc has a 52-week low of $3.58 and a 52-week high of $7.03.
The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, October 30th. Investors of record on Monday, October 15th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, October 12th. Alamos Gold’s dividend payout ratio is presently 16.67%.
Alamos Gold Company Profile
Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.
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