Legacy Capital Group California Inc. Purchases New Position in Alamos Gold Inc. (NYSE:AGI)

Legacy Capital Group California Inc. acquired a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the third quarter, Holdings Channel.com reports. The firm acquired 10,572 shares of the basic materials company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Alamos Gold by 8.3% in the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after acquiring an additional 4,009,220 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alamos Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after buying an additional 250,207 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after acquiring an additional 4,521,282 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Alamos Gold by 71.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after acquiring an additional 2,756,759 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Alamos Gold by 31.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock worth $68,576,000 after purchasing an additional 1,058,000 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AGI. National Bank Financial cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Scotiabank boosted their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. StockNews.com downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Trading Down 1.5 %

NYSE AGI opened at $20.77 on Friday. The stock has a 50-day moving average of $19.84 and a 200-day moving average of $17.53. Alamos Gold Inc. has a 1-year low of $11.24 and a 1-year high of $21.45. The firm has a market cap of $8.29 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. During the same quarter last year, the business earned $0.15 earnings per share. The business’s revenue was up 27.4% on a year-over-year basis. As a group, equities research analysts forecast that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is 19.23%.

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.