Geode Capital Management LLC Boosts Holdings in Alamos Gold Inc. $AGI

Geode Capital Management LLC boosted its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,219,852 shares of the basic materials company’s stock after buying an additional 242,415 shares during the period. Geode Capital Management LLC owned approximately 1.01% of Alamos Gold worth $168,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its holdings in Alamos Gold by 62.8% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Sheets Smith Wealth Management lifted its holdings in Alamos Gold by 1.3% in the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock valued at $775,000 after acquiring an additional 258 shares during the period. Private Advisor Group LLC lifted its holdings in Alamos Gold by 3.2% in the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock valued at $340,000 after acquiring an additional 300 shares during the period. Cary Street Partners Financial LLC lifted its holdings in Alamos Gold by 1.4% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,730 shares of the basic materials company’s stock valued at $954,000 after acquiring an additional 335 shares during the period. Finally, Legacy Capital Group California Inc. lifted its holdings in Alamos Gold by 2.9% in the fourth quarter. Legacy Capital Group California Inc. now owns 11,936 shares of the basic materials company’s stock valued at $460,000 after acquiring an additional 337 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AGI has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Scotiabank raised their target price on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Finally, Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $50.67.

Alamos Gold Price Performance

Alamos Gold stock opened at $37.72 on Thursday. The company has a market cap of $15.84 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. Alamos Gold Inc. has a one year low of $23.92 and a one year high of $55.41. The business has a fifty day moving average of $43.09 and a two-hundred day moving average of $42.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business’s revenue was up 79.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, analysts predict that Alamos Gold Inc. will post 2.46 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 11th. Alamos Gold’s payout ratio is 6.37%.

About Alamos Gold

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.