ClariVest Asset Management LLC Purchases Shares of 110,590 Alamos Gold Inc. (NYSE:AGI)

ClariVest Asset Management LLC acquired a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 110,590 shares of the basic materials company’s stock, valued at approximately $1,734,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AGI. Van ECK Associates Corp increased its holdings in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after buying an additional 4,009,220 shares during the period. Vanguard Group Inc. raised its position in Alamos Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock worth $216,371,000 after acquiring an additional 250,207 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after purchasing an additional 2,756,759 shares during the period. Norges Bank acquired a new position in shares of Alamos Gold during the fourth quarter valued at approximately $64,117,000. Finally, Bank of New York Mellon Corp increased its position in shares of Alamos Gold by 31.9% during the second 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 and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

Shares of AGI stock opened at $18.91 on Thursday. The company has a market capitalization of $7.55 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. The firm’s 50-day moving average is $17.92 and its two-hundred day moving average is $16.04. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $20.24.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. Sell-side analysts forecast that Alamos Gold Inc. will post 0.75 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGI. Scotiabank lifted their target price on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday. Jefferies Financial Group increased their price objective on shares of Alamos Gold from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 12th. Royal Bank of Canada boosted their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and an average target price of $23.31.

About Alamos Gold

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.