Canada Pension Plan Investment Board Purchases 665,485 Shares of Alamos Gold Inc. $AGI

Key Points

• The Canada Pension Plan Investment Board increased its stake in Alamos Gold Inc. by 50.9%, acquiring an additional 665,485 shares, bringing its total ownership to approximately 1,972,249 shares worth $52.7 million.
• Alamos Gold reported a 31.7% increase in revenue year-over-year, with earnings per share of $0.34, surpassing analysts' expectations of $0.33.
• The company declared a quarterly dividend of $0.025 per share, which equates to an annualized yield of 0.3%, with the payment set for September 25th.

Canada Pension Plan Investment Board lifted its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 50.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,972,249 shares of the basic materials company's stock after acquiring an additional 665,485 shares during the quarter. Canada Pension Plan Investment Board owned 0.47% of Alamos Gold worth $52,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AGI. Vanguard Group Inc. grew its position in shares of Alamos Gold by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,210,671 shares of the basic materials company's stock worth $433,133,000 after buying an additional 214,933 shares during the period. Mackenzie Financial Corp grew its position in Alamos Gold by 2.0% in the 4th quarter. Mackenzie Financial Corp now owns 7,371,629 shares of the basic materials company's stock worth $135,855,000 after purchasing an additional 145,726 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Alamos Gold by 19.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company's stock valued at $156,780,000 after acquiring an additional 957,359 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Alamos Gold by 4.9% in the first quarter. American Century Companies Inc. now owns 2,769,539 shares of the basic materials company's stock worth $74,029,000 after buying an additional 129,334 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Alamos Gold by 10.4% in the 1st quarter. TD Asset Management Inc now owns 2,556,335 shares of the basic materials company's stock worth $68,293,000 after purchasing an additional 240,654 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Stock Down 1.4%

NYSE:AGI traded down $0.46 during trading hours on Thursday, reaching $31.64. 2,342,165 shares of the stock were exchanged, compared to its average volume of 3,452,736. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The firm has a 50 day moving average of $26.80 and a 200 day moving average of $26.28. The stock has a market cap of $13.30 billion, a PE ratio of 38.11, a PEG ratio of 0.67 and a beta of 0.55. Alamos Gold Inc. has a twelve month low of $17.42 and a twelve month high of $32.49.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $438.20 million for the quarter, compared to analysts' expectations of $400.61 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, September 11th. Alamos Gold's payout ratio is 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.