Alamos Gold Inc. $AGI Stock: McAlvany Wealth Management LLC Boosts Stake

Key Points

• McAlvany Wealth Management increased its Alamos Gold stake by 47.5% in the third quarter, adding 56,011 shares to hold 173,849 shares valued at approximately $5.6 million. Institutional investors collectively own 64.33% of AGI.
• Analyst sentiment remains generally positive, with eight Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $47.50. However, Zacks downgraded the stock to “Strong Sell,” while several firms lowered their price targets.
• AGI opened at $27.72 and trades near its 52-week low of $26.92, well below its 52-week high of $55.41. Alamos Gold also pays a quarterly dividend of $0.04, equivalent to a 0.6% annualized yield.

McAlvany Wealth Management LLC lifted its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 47.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,849 shares of the basic materials company's stock after purchasing an additional 56,011 shares during the quarter. Alamos Gold accounts for approximately 2.8% of McAlvany Wealth Management LLC's investment portfolio, making the stock its 10th largest position. McAlvany Wealth Management LLC's holdings in Alamos Gold were worth $5,631,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company's stock valued at $183,963,000 after purchasing an additional 1,216,977 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Alamos Gold in the 2nd quarter worth $21,043,000. Trek Financial LLC purchased a new position in shares of Alamos Gold in the 3rd quarter worth $13,107,000. Bradley Foster & Sargent Inc. CT grew its stake in shares of Alamos Gold by 52.2% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 1,026,135 shares of the basic materials company's stock worth $45,591,000 after buying an additional 351,713 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Alamos Gold in the 1st quarter worth about $13,332,000. Institutional investors own 64.33% of the company's stock.

Wall Street Analyst Weigh In

AGI has been the topic of several recent research reports. Zacks Research cut shares of Alamos Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Bank of America lowered their price target on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, July 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Alamos Gold in a research report on Thursday. Jefferies Financial Group reduced their price objective on Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, Weiss Ratings raised Alamos Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

Alamos Gold Stock Up 1.0%

Shares of AGI opened at $27.72 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $33.69 and a 200 day moving average of $38.10. The company has a market cap of $11.60 billion, a PE ratio of 15.08, a P/E/G ratio of 0.49 and a beta of 0.59. Alamos Gold Inc. has a 52-week low of $26.92 and a 52-week high of $55.41.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Alamos Gold's dividend payout ratio is currently 6.37%.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold's principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.

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