Addenda Capital Inc. Increases Stake in Alamos Gold Inc. $AGI

Key Points

• Addenda Capital Inc. has increased its stake in Alamos Gold Inc. by 12.3%, now owning approximately 2.3% of the company's shares, valued at about $51.7 million.
• Alamos Gold's stock received multiple "outperform" and "buy" ratings from various analysts, with an average price target of $30.38.
• The company reported earnings of $0.34 per share for the last quarter, exceeding analysts' expectations and showcasing a revenue increase of 31.7% year-over-year.

Addenda Capital Inc. increased its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,944,928 shares of the basic materials company's stock after buying an additional 212,918 shares during the period. Alamos Gold comprises approximately 2.3% of Addenda Capital Inc.'s holdings, making the stock its 11th largest holding. Addenda Capital Inc. owned about 0.46% of Alamos Gold worth $51,657,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in Alamos Gold in the first quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new position in Alamos Gold in the first quarter valued at about $41,000. SBI Securities Co. Ltd. grew its stake in Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 660 shares during the last quarter. SVB Wealth LLC purchased a new position in Alamos Gold in the first quarter valued at about $67,000. Finally, Banque Cantonale Vaudoise purchased a new position in Alamos Gold in the first quarter valued at about $68,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. CIBC reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Stifel Nicolaus assumed coverage on Alamos Gold in a report on Wednesday, July 9th. They set a "buy" rating for the company. National Bankshares reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, September 16th. Finally, Stifel Canada raised Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Alamos Gold currently has an average rating of "Buy" and an average price target of $30.38.

Alamos Gold Stock Up 2.4%

Alamos Gold stock opened at $34.11 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. Alamos Gold Inc. has a 12 month low of $17.42 and a 12 month high of $34.40. The stock has a market capitalization of $14.35 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 0.70 and a beta of 0.55. The business has a 50 day simple moving average of $28.96 and a 200-day simple moving average of $27.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, topping 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 analyst estimates of $400.61 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

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

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.

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