Alamos Gold Inc. $AGI Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 29.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,468,980 shares of the basic materials company’s stock after acquiring an additional 336,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alamos Gold were worth $51,192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Alamos Gold in the 2nd quarter worth $30,000. Banque Transatlantique SA bought a new position in Alamos Gold during the 1st quarter worth approximately $31,000. 1620 Investment Advisors Inc. acquired a new position in Alamos Gold in the third quarter worth $35,000. Bessemer Group Inc. bought a new stake in Alamos Gold during the second quarter valued at $90,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Alamos Gold during the second quarter worth about $98,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AGI. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Bank of America increased their price objective on Alamos Gold from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus price target of $43.00.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $38.57 on Friday. The company’s fifty day moving average is $35.34 and its two-hundred day moving average is $31.42. The company has a market cap of $16.19 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 0.54 and a beta of 0.63. Alamos Gold Inc. has a 12-month low of $17.99 and a 12-month high of $40.98. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The business had revenue of $462.30 million during the quarter, compared to analysts’ expectations of $490.96 million. During the same quarter last year, the firm posted $0.19 earnings per share. Alamos Gold’s revenue was up 28.1% compared to the same quarter last year. Equities analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. Alamos Gold’s dividend payout ratio (DPR) is 7.81%.

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.