Connor Clark & Lunn Investment Management Ltd. Purchases 957,359 Shares of Alamos Gold Inc. (NYSE:AGI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its position in Alamos Gold Inc. by 19.5%, owning 5,866,755 shares worth approximately $156.78 million.
• Alamos Gold reported a 31.7% increase in quarterly revenue year-over-year, reaching $438.20 million, and exceeded earnings expectations with $0.34 earnings per share.
• The company has a current average rating of "Buy" from analysts, with an average price target of $30.38 for its shares.

Connor Clark & Lunn Investment Management Ltd. grew its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 19.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,866,755 shares of the basic materials company's stock after purchasing an additional 957,359 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.39% of Alamos Gold worth $156,780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new position in Alamos Gold in the 1st quarter worth about $41,000. SBI Securities Co. Ltd. boosted its holdings in shares of Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 660 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Alamos Gold in the first quarter valued at approximately $68,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Alamos Gold by 14.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company's stock valued at $181,000 after acquiring an additional 1,260 shares in the last quarter. Finally, NBT Bank N A NY bought a new position in shares of Alamos Gold in the first quarter valued at approximately $190,000. Institutional investors own 64.33% of the company's stock.

Wall Street Analyst Weigh In

AGI has been the subject of several recent analyst reports. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Wall Street Zen raised shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating for the company. Finally, National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alamos Gold has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold Stock Down 1.1%

Shares of AGI traded down $0.28 during mid-day trading on Wednesday, hitting $25.67. 1,443,100 shares of the company's stock were exchanged, compared to its average volume of 3,468,881. The firm has a fifty day moving average of $26.32 and a two-hundred day moving average of $25.57. Alamos Gold Inc. has a twelve month low of $17.42 and a twelve month high of $31.00. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 0.57 and a beta of 0.51. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07.

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 (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The business's quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, sell-side analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 12th. Alamos Gold's dividend payout ratio (DPR) is presently 12.05%.

About Alamos Gold

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.