Amundi Has $151.56 Million Position in Alamos Gold Inc. $AGI

Key Points

• Amundi increased its Alamos Gold stake by 6.1% in the first quarter, holding 3.41 million shares valued at approximately $151.6 million. Institutional investors and hedge funds collectively own 64.33% of the company.
• Alamos Gold reported quarterly earnings of $0.59 per share, beating estimates by $0.07, while revenue rose 35.6% year over year to $594.1 million. The company also maintains a quarterly dividend of $0.04 per share.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $47.50, despite recent target reductions. AGI opened at $27.83, well below its 52-week high of $55.41.

Amundi increased its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,411,224 shares of the basic materials company's stock after acquiring an additional 197,486 shares during the quarter. Amundi owned approximately 0.81% of Alamos Gold worth $151,561,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Alamos Gold in the 4th quarter valued at about $219,475,000. Massachusetts Financial Services Co. MA bought a new position in Alamos Gold in the fourth quarter worth approximately $72,410,000. Bank of America Corp DE boosted its holdings in Alamos Gold by 137.3% in the third quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company's stock worth $91,492,000 after acquiring an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 valued at $64,032,000 after acquiring an additional 1,227,695 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in 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 valued at $183,963,000 after acquiring an additional 1,216,977 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Price Performance

AGI opened at $27.83 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.36 and a beta of 0.55. The firm's fifty day moving average price is $32.84 and its two-hundred day moving average price is $40.28. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.77%. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, analysts anticipate that Alamos Gold Inc. will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold's dividend payout ratio is presently 5.78%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AGI. Royal Bank Of Canada lowered their target price on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Bank of America reduced their price target on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Finally, Jefferies Financial Group dropped their price objective 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. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

Want to see what other hedge funds are holding AGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.