401,724 Shares in Alamos Gold Inc. $AGI Acquired by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments Inc. acquired 401,724 shares of Alamos Gold Inc. valued at approximately $10.66 million, marking a new position for the institutional investor in the second quarter.
• Alamos Gold reported a quarterly earnings per share of $0.34, exceeding analysts' expectations of $0.33, with revenues rising by 31.7% year-over-year to $438.20 million.
• The company declared a quarterly dividend of $0.025, resulting in an annualized yield of 0.3% and a payout ratio of 12.05%.

Montrusco Bolton Investments Inc. acquired a new position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 401,724 shares of the basic materials company's stock, valued at approximately $10,664,000. Montrusco Bolton Investments Inc. owned 0.10% of Alamos Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AGI. T. Rowe Price Investment Management Inc. purchased a new position in Alamos Gold in the first quarter worth approximately $37,738,000. Goldman Sachs Group Inc. grew its position in Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company's stock worth $64,032,000 after acquiring an additional 1,227,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Alamos Gold by 19.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company's stock worth $156,780,000 after acquiring an additional 957,359 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Alamos Gold in the first quarter worth approximately $24,011,000. Finally, Canada Pension Plan Investment Board grew its position in Alamos Gold by 50.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,972,249 shares of the basic materials company's stock worth $52,705,000 after acquiring an additional 665,485 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 0.8%

Alamos Gold stock opened at $33.03 on Monday. Alamos Gold Inc. has a 1-year low of $17.42 and a 1-year high of $35.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The stock has a market cap of $13.89 billion, a PE ratio of 39.80, a P/E/G ratio of 0.67 and a beta of 0.50. The stock's fifty day moving average is $30.68 and its two-hundred day moving average is $28.00.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company had revenue of $438.20 million for the quarter, compared to analysts' expectations of $400.61 million. During the same period last year, the firm earned $0.24 earnings per share. Alamos Gold's quarterly revenue was up 31.7% on a year-over-year basis. On average, sell-side analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a $0.025 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold's dividend payout ratio (DPR) is currently 12.05%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AGI shares. BMO Capital Markets reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Zacks Research upgraded Alamos Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Stifel Nicolaus began coverage on Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alamos Gold in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $31.17.

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.

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