FNY Investment Advisers LLC Purchases Shares of 24,650 Alamos Gold Inc. $AGI

FNY Investment Advisers LLC purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, HoldingsChannel reports. The fund purchased 24,650 shares of the basic materials company’s stock, valued at approximately $859,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGI. 1620 Investment Advisors Inc. acquired a new stake in shares of Alamos Gold in the third quarter valued at $35,000. EverSource Wealth Advisors LLC grew its holdings in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 581 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Alamos Gold during the second quarter worth about $98,000. Employees Retirement System of Texas bought a new stake in Alamos Gold in the second quarter worth about $112,000. Finally, Farther Finance Advisors LLC raised its position in Alamos Gold by 528.4% in the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 3,757 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Down 8.4%

Shares of AGI opened at $41.88 on Thursday. The business’s 50-day moving average price is $44.88 and its 200 day moving average price is $38.25. The stock has a market capitalization of $17.58 billion, a P/E ratio of 19.94, a P/E/G ratio of 0.61 and a beta of 0.55. Alamos Gold Inc. has a 1-year low of $23.49 and a 1-year high of $55.41. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05.

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

Alamos Gold Increases Dividend

The company 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. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, March 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 7.62%.

Analyst Upgrades and Downgrades

AGI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Desjardins started coverage on shares of Alamos Gold in a report on Friday, November 28th. They set a “buy” rating for the company. Jefferies Financial Group restated a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a research report on Sunday, December 7th. Finally, Scotiabank upped their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $45.50.

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.