Norges Bank Makes New Investment in Alamos Gold Inc. (NYSE:AGI)

Norges Bank acquired a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,464,903 shares of the basic materials company’s stock, valued at approximately $100,694,000.

Several other hedge funds have also made changes to their positions in AGI. CIBC Asset Management Inc increased its stake in Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after acquiring an additional 2,867,027 shares during the period. FMR LLC increased its position in shares of Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after purchasing an additional 2,148,153 shares during the period. Addenda Capital Inc. acquired a new position in shares of Alamos Gold in the fourth quarter valued at $34,869,000. Raymond James Financial Inc. bought a new position in Alamos Gold in the fourth quarter worth $28,950,000. Finally, Jupiter Asset Management Ltd. boosted its stake in Alamos Gold by 55.2% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,615,833 shares of the basic materials company’s stock worth $29,796,000 after buying an additional 574,995 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Up 0.0 %

Shares of Alamos Gold stock opened at $26.74 on Wednesday. Alamos Gold Inc. has a 12-month low of $14.31 and a 12-month high of $27.25. The stock has a market capitalization of $11.24 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15. The company has a 50-day simple moving average of $23.41 and a 200 day simple moving average of $20.84. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. Research analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 annualized dividend and a yield of 0.37%. Alamos Gold’s payout ratio is 14.49%.

Wall Street Analysts Forecast Growth

AGI has been the subject of a number of recent research reports. StockNews.com cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank of Canada raised their price target on shares of Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $26.06.

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.