Alamos Gold Inc. $AGI Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden increased its Alamos Gold stake by 139.8% in the second quarter, purchasing 181,100 additional shares and bringing its holdings to 310,612 shares valued at approximately $9.4 million.
• Institutional ownership remains significant at 64.33%, with several major funds—including Norges Bank, Manulife, Arrowstreet Capital and Bank of New York Mellon—also increasing their positions.
• Alamos Gold reported quarterly EPS of $0.59, beating estimates of $0.52, while revenue rose 35.6% year over year to $594.1 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $47.50, and the company declared a quarterly dividend of $0.04 per share.

Andra AP fonden increased its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 139.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,612 shares of the basic materials company's stock after buying an additional 181,100 shares during the quarter. Andra AP fonden owned about 0.07% of Alamos Gold worth $9,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Alamos Gold during the fourth quarter valued at approximately $219,475,000. The Manufacturers Life Insurance Company boosted its stake in shares of Alamos Gold by 41.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company's stock worth $183,963,000 after acquiring an additional 1,216,977 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Alamos Gold by 11.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company's stock worth $351,072,000 after buying an additional 964,317 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Alamos Gold by 74.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,809,382 shares of the basic materials company's stock valued at $69,806,000 after acquiring an additional 770,569 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Alamos Gold in the fourth quarter valued at approximately $21,219,000. Institutional investors and hedge funds own 64.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AGI shares. Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Jefferies Financial Group cut their price target on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Weiss Ratings cut Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Finally, Bank of America lowered their price objective on Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $47.50.

Alamos Gold Price Performance

Alamos Gold stock opened at $36.27 on Wednesday. The stock has a market capitalization of $15.18 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61. The business has a 50 day simple moving average of $33.50 and a 200-day simple moving average of $37.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. Alamos Gold Inc. has a 12 month low of $27.05 and a 12 month high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to analysts' expectations of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The company's revenue was up 35.6% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. Equities analysts predict that Alamos Gold Inc. will post 2.12 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 10th. Alamos Gold's payout ratio is currently 5.78%.

Alamos Gold Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company produces gold doré and related by-products from its wholly owned mining operations in Canada and Mexico, and also maintains a portfolio of exploration and development projects.

Alamos Gold's principal Canadian assets are the Island Gold and Young-Davidson mines in Ontario, along with the Magino mine near Dubreuilville, Ontario. In Mexico, the company operates the Mulatos mining district in Sonora, which includes the La Yaqui Grande mine.

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