305,000 Shares in Alamos Gold Inc. $AGI Acquired by Ninepoint Partners LP

Ninepoint Partners LP acquired a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 305,000 shares of the basic materials company’s stock, valued at approximately $10,632,000. Alamos Gold accounts for 1.4% of Ninepoint Partners LP’s portfolio, making the stock its 11th biggest holding. Ninepoint Partners LP owned 0.07% of Alamos Gold as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after buying an additional 1,227,695 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Alamos Gold in the first quarter worth about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alamos Gold by 129.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after acquiring an additional 571,536 shares in the last quarter. Bessemer Group Inc. acquired a new position in Alamos Gold in the second quarter valued at approximately $90,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Alamos Gold in the 2nd quarter worth approximately $1,502,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Desjardins assumed coverage on shares of Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Wall Street Zen raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Trading Up 3.5%

Shares of Alamos Gold stock opened at $54.27 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. The stock’s 50 day simple moving average is $42.45 and its 200-day simple moving average is $36.23. The stock has a market cap of $22.79 billion, a P/E ratio of 25.84, a P/E/G ratio of 0.50 and a beta of 0.61. Alamos Gold Inc. has a 1-year low of $22.03 and a 1-year high of $54.37.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The firm’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal 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 paid a $0.04 dividend. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. Alamos Gold’s dividend payout ratio is currently 4.76%.

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.