CIBC Asset Management Inc Raises Stock Position in Alamos Gold Inc. (NYSE:AGI)

CIBC Asset Management Inc boosted its holdings in Alamos Gold Inc. (NYSE:AGIGet Rating) (TSE:AGI) by 1.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 528,134 shares of the basic materials company’s stock after buying an additional 5,676 shares during the period. CIBC Asset Management Inc owned 0.13% of Alamos Gold worth $4,441,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC boosted its holdings in shares of Alamos Gold by 12.1% during the 4th quarter. First Eagle Investment Management LLC now owns 11,251,654 shares of the basic materials company’s stock valued at $86,548,000 after purchasing an additional 1,212,875 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Alamos Gold by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 8,598,020 shares of the basic materials company’s stock valued at $66,119,000 after purchasing an additional 114,049 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Alamos Gold by 634.1% during the 4th quarter. Millennium Management LLC now owns 6,074,088 shares of the basic materials company’s stock valued at $46,710,000 after purchasing an additional 5,246,614 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Alamos Gold by 8.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,648,377 shares of the basic materials company’s stock valued at $28,085,000 after purchasing an additional 272,533 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Alamos Gold by 7.9% during the 4th quarter. Invesco Ltd. now owns 3,595,879 shares of the basic materials company’s stock valued at $27,652,000 after purchasing an additional 263,880 shares during the last quarter. Hedge funds and other institutional investors own 62.33% of the company’s stock.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $7.79 on Friday. The company has a market cap of $3.05 billion, a P/E ratio of 55.64, a PEG ratio of 2.84 and a beta of 1.07. Alamos Gold Inc. has a 1 year low of $6.51 and a 1 year high of $9.22. The firm has a 50-day simple moving average of $7.41 and a two-hundred day simple moving average of $7.64.

Alamos Gold (NYSE:AGIGet Rating) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $195.11 million. Alamos Gold had a net margin of 6.76% and a return on equity of 4.51%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that Alamos Gold Inc. will post 0.37 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, June 15th. Alamos Gold’s payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AGI. Stifel Nicolaus dropped their price objective on shares of Alamos Gold from C$18.25 to C$16.00 in a report on Wednesday, July 20th. TD Securities increased their price target on shares of Alamos Gold from C$16.00 to C$16.50 in a report on Thursday, June 30th. Canaccord Genuity Group increased their price target on shares of Alamos Gold from C$12.00 to C$13.00 in a report on Thursday, June 30th. StockNews.com raised shares of Alamos Gold from a “sell” rating to a “hold” rating in a report on Saturday. Finally, National Bank Financial lowered their price target on shares of Alamos Gold from C$13.00 to C$12.50 in a report on Thursday, July 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Alamos Gold Profile

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Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of precious metals in Canada, Mexico, the United States, and Turkey. It primary explores for gold and silver. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 5,587 hectares located in Matachewan in the Northern Ontario, Canada.

See Also

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Institutional Ownership by Quarter for Alamos Gold (NYSE:AGI)

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