Alamos Gold Inc. $AGI Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Alamos Gold Inc. by 4.3%, now owning over 1.1 million shares valued at approximately $30.15 million.
• Alamos Gold's stock experienced a 5.8% increase, opening at $36.05, and has a market cap of $15.16 billion.
• The company reported $0.34 earnings per share in its last quarter, beating estimates, and announced a quarterly dividend of $0.025 per share.

Allspring Global Investments Holdings LLC grew its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,132,780 shares of the basic materials company's stock after purchasing an additional 46,900 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.27% of Alamos Gold worth $30,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGI. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Alamos Gold during the first quarter worth about $320,000. NBT Bank N A NY acquired a new position in shares of Alamos Gold in the first quarter worth about $190,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Alamos Gold in the first quarter worth about $222,000. CWA Asset Management Group LLC lifted its stake in shares of Alamos Gold by 5.5% in the first quarter. CWA Asset Management Group LLC now owns 45,598 shares of the basic materials company's stock worth $1,219,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Canoe Financial LP lifted its stake in shares of Alamos Gold by 4.0% in the first quarter. Canoe Financial LP now owns 229,412 shares of the basic materials company's stock worth $6,131,000 after acquiring an additional 8,865 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AGI shares. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Wall Street Zen cut Alamos Gold from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Zacks Research raised Alamos Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $31.17.

Alamos Gold Stock Up 5.8%

Shares of Alamos Gold stock opened at $36.05 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The firm has a market cap of $15.16 billion, a P/E ratio of 43.43, a P/E/G ratio of 0.69 and a beta of 0.50. Alamos Gold Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $36.13. The business has a 50-day moving average price of $31.21 and a 200 day moving average price of $28.15.

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

Alamos Gold Announces Dividend

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

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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