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

CIBC Asset Management Inc boosted its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 59.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,726,726 shares of the basic materials company’s stock after acquiring an additional 2,867,027 shares during the period. CIBC Asset Management Inc’s holdings in Alamos Gold were worth $142,936,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Creative Planning raised its holdings in shares of Alamos Gold by 122.2% during the third quarter. Creative Planning now owns 27,476 shares of the basic materials company’s stock valued at $548,000 after purchasing an additional 15,113 shares during the last quarter. Veracity Capital LLC raised its stake in Alamos Gold by 15.6% during the 3rd quarter. Veracity Capital LLC now owns 21,875 shares of the basic materials company’s stock valued at $436,000 after buying an additional 2,949 shares during the last quarter. Pure Portfolios Holdings LLC bought a new position in shares of Alamos Gold during the 3rd quarter valued at $458,000. U S Global Investors Inc. boosted its stake in shares of Alamos Gold by 27.4% in the 3rd quarter. U S Global Investors Inc. now owns 318,500 shares of the basic materials company’s stock worth $6,351,000 after buying an additional 68,500 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Alamos Gold in the 3rd quarter worth $111,000. Institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AGI. Royal Bank of Canada raised their target price on Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. National Bank Financial raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alamos Gold has an average rating of “Buy” and an average price target of $26.06.

Alamos Gold Trading Down 3.4 %

Shares of NYSE:AGI opened at $22.28 on Monday. The stock has a 50 day moving average of $19.91 and a 200 day moving average of $19.53. The company has a market cap of $9.37 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. Alamos Gold Inc. has a 12-month low of $11.34 and a 12-month high of $23.32. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.025 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.45%. Alamos Gold’s payout ratio is currently 16.67%.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.