Confluence Investment Management LLC Buys New Position in Alamos Gold Inc. $AGI

Key Points

• Confluence Investment Management LLC has acquired a new stake in Alamos Gold Inc., purchasing 26,989 shares valued at approximately $717,000 during the second quarter.
• Alamos Gold reported a 31.7% increase in revenue to $438.20 million for the last quarter, exceeding analysts' estimates and reflecting improved earnings per share of $0.34.
• The company will pay a quarterly dividend of $0.025 per share on September 25th, resulting in an annualized yield of 0.3% and reflecting a payout ratio of 12.05%.

Confluence Investment Management LLC bought a new stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,989 shares of the basic materials company's stock, valued at approximately $717,000.

A number of other hedge funds have also bought and sold shares of AGI. Ameriprise Financial Inc. lifted its holdings in Alamos Gold by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 187,920 shares of the basic materials company's stock worth $3,465,000 after acquiring an additional 1,063 shares during the period. Bank of America Corp DE lifted its holdings in Alamos Gold by 45.1% during the fourth quarter. Bank of America Corp DE now owns 1,391,497 shares of the basic materials company's stock worth $25,659,000 after acquiring an additional 432,641 shares during the period. Cetera Investment Advisers lifted its holdings in Alamos Gold by 4.9% during the fourth quarter. Cetera Investment Advisers now owns 23,853 shares of the basic materials company's stock worth $440,000 after acquiring an additional 1,125 shares during the period. Deutsche Bank AG lifted its holdings in Alamos Gold by 5.3% during the fourth quarter. Deutsche Bank AG now owns 171,943 shares of the basic materials company's stock worth $3,171,000 after acquiring an additional 8,681 shares during the period. Finally, Man Group plc lifted its holdings in Alamos Gold by 942.8% during the fourth quarter. Man Group plc now owns 559,511 shares of the basic materials company's stock worth $10,317,000 after acquiring an additional 505,857 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Performance

Shares of AGI opened at $32.97 on Friday. The firm has a market cap of $13.87 billion, a PE ratio of 39.72, a PEG ratio of 0.72 and a beta of 0.55. The stock's fifty day moving average price is $27.65 and its two-hundred day moving average price is $26.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $33.27.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) 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 company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. During the same period in the previous year, the company posted $0.24 EPS. The firm's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 dividend yield of 0.3%. The ex-dividend date is Thursday, September 11th. Alamos Gold's payout ratio is presently 12.05%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AGI shares. Stifel Nicolaus started coverage on Alamos Gold in a report on Wednesday, July 9th. They set a "buy" rating on the stock. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, CIBC restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Two investment 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. According to MarketBeat.com, Alamos Gold has a consensus rating of "Buy" and an average price target of $30.38.

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.

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