Connor Clark & Lunn Investment Management Ltd. Has $50.86 Million Position in Alamos Gold Inc. $AGI

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 62.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,459,301 shares of the basic materials company’s stock after selling 2,452,169 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.35% of Alamos Gold worth $50,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its position in Alamos Gold by 35.3% during the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after buying an additional 11,876,324 shares during the period. Norges Bank acquired a new stake in Alamos Gold during the 2nd quarter worth about $144,808,000. Geode Capital Management LLC grew its stake in Alamos Gold by 639.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,380,859 shares of the basic materials company’s stock valued at $91,379,000 after acquiring an additional 2,923,478 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Alamos Gold by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 11,132,337 shares of the basic materials company’s stock valued at $296,623,000 after purchasing an additional 2,521,347 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Alamos Gold by 32.3% in the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after purchasing an additional 2,192,593 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

AGI has been the subject of several research reports. Scotiabank raised their price target on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research report on Sunday, December 7th. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Finally, Desjardins assumed coverage on shares of Alamos Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Trading Down 1.9%

Shares of NYSE AGI opened at $48.49 on Friday. The stock has a market cap of $20.36 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.66 and a beta of 0.55. The business has a 50 day simple moving average of $44.47 and a 200 day simple moving average of $37.76. Alamos Gold Inc. has a 52 week low of $23.49 and a 52 week high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. On average, research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is 4.76%.

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.