Alamos Gold Inc. (NYSE:AGI) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 147.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,585,450 shares of the basic materials company’s stock after buying an additional 4,521,282 shares during the quarter. Mackenzie Financial Corp’s holdings in Alamos Gold were worth $119,003,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AGI. Van ECK Associates Corp grew its stake in Alamos Gold by 8.3% during 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 purchasing an additional 4,009,220 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alamos Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock valued at $216,371,000 after buying 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% during the first 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 buying an additional 2,756,759 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 buying an additional 1,058,000 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Alamos Gold by 7.8% during the fourth quarter. TD Asset Management Inc now owns 2,818,950 shares of the basic materials company’s stock worth $38,096,000 after buying an additional 203,262 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 a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank boosted 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 Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Finally, Jefferies Financial Group lifted their price target on Alamos Gold from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.81.

Alamos Gold Price Performance

NYSE AGI opened at $19.97 on Friday. The firm’s fifty day moving average price is $18.69 and its 200 day moving average price is $16.63. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $21.42. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Alamos Gold’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, sell-side analysts forecast that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.50%. The ex-dividend date was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is 19.23%.

Alamos Gold 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.